https://www.taxtmi.com/caselaws?id=380382 The Tribunal upheld the penalty under Section 271B of the Income Tax Act, 1961, as the assessee failed to provide a reasonable cause for the delay in auditing the accounts. Despite citing criminal proceedings and director's illness as reasons for the delay, the Tribunal found them insufficient. The business continued to operate, and compliance could have been ensured. The penalty was affirmed, and the appeals were dismissed. en-us Fri, 22 Mar 2019 00:00:00 +0530 Sat, 18 May 2019 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380382 The Tribunal upheld the penalty under Section 271B of the Income Tax Act, 1961, as the assessee failed to provide a reasonable cause for the delay in auditing the accounts. Despite citing criminal proceedings and director's illness as reasons for the delay, the Tribunal found them insufficient. The business continued to operate, and compliance could have been ensured. The penalty was affirmed, and the appeals were dismissed. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380382