https://www.taxtmi.com/caselaws?id=12150 Penalty under section 271B was held unwarranted where a co-operative society could not complete the statutory audit before the due date because the Registrar had not appointed the auditor required under the Co-operative Societies Act, 1965. Although failure to obtain audit under section 44AB ordinarily attracts penalty, the assessee had repeatedly sought appointment of the statutory auditor and no fault was shown on its part. The delay being attributable to non-appointment of the auditor beyond the assessee's control constituted reasonable cause, so penalty was not justified. en-us Tue, 23 Jul 2002 00:00:00 +0530 Wed, 17 Feb 2010 19:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12150 Penalty under section 271B was held unwarranted where a co-operative society could not complete the statutory audit before the due date because the Registrar had not appointed the auditor required under the Co-operative Societies Act, 1965. Although failure to obtain audit under section 44AB ordinarily attracts penalty, the assessee had repeatedly sought appointment of the statutory auditor and no fault was shown on its part. The delay being attributable to non-appointment of the auditor beyond the assessee's control constituted reasonable cause, so penalty was not justified. Case-Laws Income Tax Tue, 23 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12150