https://www.taxtmi.com/caselaws?id=339598 The Tribunal allowed the Assessee's appeals for A.Ys 2008-09 and 2009-10, canceling the penalties imposed under section 271B of the Income Tax Act, 1961. The Tribunal found that the delays in obtaining and filing audit reports were beyond the Assessee's control, constituting reasonable cause for non-compliance with statutory requirements. The Tribunal considered the delay as technical and venial, leading to the cancellation of penalties confirmed by the CIT(A). en-us Tue, 28 Feb 2017 00:00:00 +0530 Fri, 03 Mar 2017 06:49:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339598 The Tribunal allowed the Assessee's appeals for A.Ys 2008-09 and 2009-10, canceling the penalties imposed under section 271B of the Income Tax Act, 1961. The Tribunal found that the delays in obtaining and filing audit reports were beyond the Assessee's control, constituting reasonable cause for non-compliance with statutory requirements. The Tribunal considered the delay as technical and venial, leading to the cancellation of penalties confirmed by the CIT(A). Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339598