https://www.taxtmi.com/caselaws?id=438698 The Tribunal allowed the appeal, ruling that the penalty imposed under section 271B of the Income Tax Act for failure to get accounts audited was not justified. The Tribunal found the assessee's explanation to be a reasonable cause under section 273B, leading to the deletion of the penalty. The penalty was deemed unsustainable, and the appeal of the assessee was allowed. en-us Tue, 30 May 2023 00:00:00 +0530 Wed, 07 Jun 2023 08:51:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438698 The Tribunal allowed the appeal, ruling that the penalty imposed under section 271B of the Income Tax Act for failure to get accounts audited was not justified. The Tribunal found the assessee's explanation to be a reasonable cause under section 273B, leading to the deletion of the penalty. The penalty was deemed unsustainable, and the appeal of the assessee was allowed. Case-Laws Income Tax Tue, 30 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438698