https://www.taxtmi.com/caselaws?id=419726 The Tribunal allowed the appeal, ruling that there was a reasonable cause for the delay in obtaining the Tax Audit Report, and quashed the penalty under section 271B of the Income Tax Act, 1961. The judgment emphasized considering specific circumstances and efforts made by the assessee in determining penalty applicability for non-compliance with tax regulations. en-us Mon, 28 Feb 2022 00:00:00 +0530 Sat, 19 Mar 2022 07:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419726 The Tribunal allowed the appeal, ruling that there was a reasonable cause for the delay in obtaining the Tax Audit Report, and quashed the penalty under section 271B of the Income Tax Act, 1961. The judgment emphasized considering specific circumstances and efforts made by the assessee in determining penalty applicability for non-compliance with tax regulations. Case-Laws Income Tax Mon, 28 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419726