https://www.taxtmi.com/caselaws?id=118380 The Tribunal dismissed the revenue's appeal against the deletion of penalty under section 271B by the Commissioner of Income-tax (Appeals). The Tribunal upheld the decision to delete the penalty, emphasizing the genuine reasons presented by the assessee for the delay in audit completion, including the unavailability of crucial documents and the Accountant's illness. The Tribunal found these reasons to be reasonable causes and not actuated by bad faith, justifying the deletion of the penalty. en-us Wed, 29 Mar 2006 00:00:00 +0530 Sat, 30 Jun 2012 13:06:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118380 The Tribunal dismissed the revenue's appeal against the deletion of penalty under section 271B by the Commissioner of Income-tax (Appeals). The Tribunal upheld the decision to delete the penalty, emphasizing the genuine reasons presented by the assessee for the delay in audit completion, including the unavailability of crucial documents and the Accountant's illness. The Tribunal found these reasons to be reasonable causes and not actuated by bad faith, justifying the deletion of the penalty. Case-Laws Income Tax Wed, 29 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118380