https://www.taxtmi.com/caselaws?id=282217 The tribunal allowed the Assessee's appeal regarding the penalty imposed under section 271B of the Income Tax Act, 1961 for Assessment Year 2014-15. The tribunal found that the Assessee's delayed audit of accounts, although lacking a reasonable cause, was acceptable in the unique circumstances of the case. The penalty was deleted, emphasizing that this decision does not establish a precedent. The order was issued on May 29, 2018, in favor of the Assessee. en-us Tue, 29 May 2018 00:00:00 +0530 Sat, 27 Jul 2019 06:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282217 The tribunal allowed the Assessee's appeal regarding the penalty imposed under section 271B of the Income Tax Act, 1961 for Assessment Year 2014-15. The tribunal found that the Assessee's delayed audit of accounts, although lacking a reasonable cause, was acceptable in the unique circumstances of the case. The penalty was deleted, emphasizing that this decision does not establish a precedent. The order was issued on May 29, 2018, in favor of the Assessee. Case-Laws Income Tax Tue, 29 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282217