https://www.taxtmi.com/caselaws?id=764181 The ITAT Pune allowed the assessee's appeal against penalty u/s 271B for failure to get accounts audited within the specified due date. The tribunal found that since the audit for FY 2016-17 was completed in March 2019, the audit for FY 2017-18 could not be done prior to that date. Relying on precedent, the tribunal held that the assessee was prevented by reasonable genuine cause from completing the audit in time and directed the Assessing Officer to delete the penalty. en-us Thu, 02 Jan 2025 00:00:00 +0530 Sat, 04 Jan 2025 08:44:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764181 The ITAT Pune allowed the assessee's appeal against penalty u/s 271B for failure to get accounts audited within the specified due date. The tribunal found that since the audit for FY 2016-17 was completed in March 2019, the audit for FY 2017-18 could not be done prior to that date. Relying on precedent, the tribunal held that the assessee was prevented by reasonable genuine cause from completing the audit in time and directed the Assessing Officer to delete the penalty. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764181