Tax Audit Penalty Waived: Reasonable Cause for Delay in Statutory Audit Report Submission Accepted u/s 273B.

Tax Audit Penalty Waived: Reasonable Cause for Delay in Statutory Audit Report Submission Accepted u/s 273B. https://www.taxtmi.com/highlights?id=58577 Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed sufficient and reasonable cause within the meaning of section 273B of the Act and hence, could not be invited with the levy of penalty under section 271B. - Income declared by the assessee in the revised computation of income in the sum has been indeed accepted by the AO in the scrutiny assessment - No penalty - AT en-us Wed, 30 Jun 2021 09:28:39 +0530 Wed, 30 Jun 2021 09:28:39 +0530 TaxTMI RSS Generator Tax Audit Penalty Waived: Reasonable Cause for Delay in Statutory Audit Report Submission Accepted u/s 273B. https://www.taxtmi.com/highlights?id=58577 Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed sufficient and reasonable cause within the meaning of section 273B of the Act and hence, could not be invited with the levy of penalty under section 271B. - Income declared by the assessee in the revised computation of income in the sum has been indeed accepted by the AO in the scrutiny assessment - No penalty - AT Highlights Income Tax Wed, 30 Jun 2021 09:28:39 +0530 https://www.taxtmi.com/highlights?id=58577