https://www.taxtmi.com/caselaws?id=206927 The Court held in favor of the appellant on multiple issues. It found that the Tribunal erred in upholding the penalty under section 271B for the assessment year in question, as a similar explanation was deemed reasonable in a previous case. The Court also agreed with the appellant that the delay in appointing statutory auditors constituted a valid reason for not meeting audit deadlines. Additionally, the Court supported the appellant's argument that the non-appointment of auditors was beyond their control, ultimately ruling in favor of the appellant and allowing the appeal without costs. en-us Tue, 07 Dec 2010 00:00:00 +0530 Tue, 22 Nov 2011 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206927 The Court held in favor of the appellant on multiple issues. It found that the Tribunal erred in upholding the penalty under section 271B for the assessment year in question, as a similar explanation was deemed reasonable in a previous case. The Court also agreed with the appellant that the delay in appointing statutory auditors constituted a valid reason for not meeting audit deadlines. Additionally, the Court supported the appellant's argument that the non-appointment of auditors was beyond their control, ultimately ruling in favor of the appellant and allowing the appeal without costs. Case-Laws Income Tax Tue, 07 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206927