https://www.taxtmi.com/caselaws?id=307042 The tribunal allowed the appeal filed by the assessee, condoning the delay in filing the appeal and admitting it for adjudication. Regarding the levy of penalty under section 271B of the Income Tax Act for belated filing of a tax audit report, the tribunal found a reasonable cause for the delay attributed to the Department of Cooperative Audit, ruling that the penalty could not be imposed in such circumstances. As a result, the tribunal directed the assessing officer to delete the penalty imposed under section 271B of the Act. en-us Wed, 29 Jun 2022 00:00:00 +0530 Tue, 14 Mar 2023 21:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307042 The tribunal allowed the appeal filed by the assessee, condoning the delay in filing the appeal and admitting it for adjudication. Regarding the levy of penalty under section 271B of the Income Tax Act for belated filing of a tax audit report, the tribunal found a reasonable cause for the delay attributed to the Department of Cooperative Audit, ruling that the penalty could not be imposed in such circumstances. As a result, the tribunal directed the assessing officer to delete the penalty imposed under section 271B of the Act. Case-Laws Income Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307042