https://www.taxtmi.com/caselaws?id=3691 Penalty under section 271B was held not sustainable where delay in furnishing the audit report under section 44AB arose from circumstances beyond the assessee co-operative society's control. The society was required to have its audit conducted under the Haryana Co-operative Societies Act, and the delay resulted from the Registrar not appointing the auditor in time. The audit report was eventually furnished, and the Tribunal's acceptance of the explanation as reasonable cause was treated as a factual finding with no legal infirmity. Section 273B therefore protected the assessee from penalty. en-us Fri, 01 Feb 2008 00:00:00 +0530 Sun, 27 Jul 2008 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3691 Penalty under section 271B was held not sustainable where delay in furnishing the audit report under section 44AB arose from circumstances beyond the assessee co-operative society's control. The society was required to have its audit conducted under the Haryana Co-operative Societies Act, and the delay resulted from the Registrar not appointing the auditor in time. The audit report was eventually furnished, and the Tribunal's acceptance of the explanation as reasonable cause was treated as a factual finding with no legal infirmity. Section 273B therefore protected the assessee from penalty. Case-Laws Income Tax Fri, 01 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3691