https://www.taxtmi.com/caselaws?id=152310 The High Court upheld the Tribunal's decision to set aside the penalty imposed under section 271B for the assessment years 1990-91 and 1991-92. The Court found that the delay in getting accounts audited was beyond the assessee's control and was due to the auditors' delay, constituting a reasonable cause. Emphasizing the need for a reasonable cause to avoid penalties under the Income-tax Act, the Court dismissed the appeal, stating that no substantial question of law was involved and that the Tribunal's decision was valid. en-us Mon, 26 Apr 2010 00:00:00 +0530 Fri, 10 Oct 2014 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152310 The High Court upheld the Tribunal's decision to set aside the penalty imposed under section 271B for the assessment years 1990-91 and 1991-92. The Court found that the delay in getting accounts audited was beyond the assessee's control and was due to the auditors' delay, constituting a reasonable cause. Emphasizing the need for a reasonable cause to avoid penalties under the Income-tax Act, the Court dismissed the appeal, stating that no substantial question of law was involved and that the Tribunal's decision was valid. Case-Laws Income Tax Mon, 26 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152310