https://www.taxtmi.com/caselaws?id=16570 The High Court of Kerala declined to answer the income-tax reference regarding the imposition of a penalty under section 271B for failure to get accounts audited during the assessment year 1985-86. The Court directed the Assessing Officer to reevaluate the explanation provided by the assessee, emphasizing the need to determine if a "reasonable cause" existed for the failure to submit audited accounts. The case was disposed of with this direction for further action by the Income-tax Appellate Tribunal, Cochin Bench. en-us Mon, 24 Nov 1997 00:00:00 +0530 Tue, 08 Sep 2009 15:42:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16570 The High Court of Kerala declined to answer the income-tax reference regarding the imposition of a penalty under section 271B for failure to get accounts audited during the assessment year 1985-86. The Court directed the Assessing Officer to reevaluate the explanation provided by the assessee, emphasizing the need to determine if a "reasonable cause" existed for the failure to submit audited accounts. The case was disposed of with this direction for further action by the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Mon, 24 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16570