https://www.taxtmi.com/article/detailed?id=11251 The penalty under Section 271B for late filing of the tax audit report was deleted where the assessee, facing business collapse and heavy losses, was found to have been prevented by reasonable cause from obtaining an audit in time and had filed the audit report before completion of the assessment, making penalty inappropriate. en-us Tue, 28 Mar 2023 09:56:19 +0530 Tue, 28 Mar 2023 09:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11251 The penalty under Section 271B for late filing of the tax audit report was deleted where the assessee, facing business collapse and heavy losses, was found to have been prevented by reasonable cause from obtaining an audit in time and had filed the audit report before completion of the assessment, making penalty inappropriate. Articles Income Tax Tue, 28 Mar 2023 09:56:19 +0530 https://www.taxtmi.com/article/detailed?id=11251