https://www.taxtmi.com/caselaws?id=379458 Penalty under section 271B was deleted because the audit report and return were furnished before completion of assessment, and the delay caused no loss to the exchequer or prejudice to the Revenue. On those facts, the default was treated as a technical venial breach rather than a culpable failure, and reasonable cause within section 273B was accepted. The additional limitation objection was not examined after deletion of the penalty on merits. en-us Tue, 30 Apr 2019 00:00:00 +0530 Fri, 03 May 2019 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379458 Penalty under section 271B was deleted because the audit report and return were furnished before completion of assessment, and the delay caused no loss to the exchequer or prejudice to the Revenue. On those facts, the default was treated as a technical venial breach rather than a culpable failure, and reasonable cause within section 273B was accepted. The additional limitation objection was not examined after deletion of the penalty on merits. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379458