https://www.taxtmi.com/highlights?id=84580 The ITAT held that the assessee was prevented by reasonable and genuine cause for not getting the books audited in time u/s 44AB for the relevant previous years due to peculiar circumstances. Relying on the precedent of APL (India) Pvt. Ltd., the ITAT directed the AO to delete the penalty levied u/s 271B, allowing the assessee's appeal on the ground of reasonable cause for delay in audit compliance. en-us Sat, 04 Jan 2025 08:44:24 +0530 Sat, 04 Jan 2025 08:44:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=84580 The ITAT held that the assessee was prevented by reasonable and genuine cause for not getting the books audited in time u/s 44AB for the relevant previous years due to peculiar circumstances. Relying on the precedent of APL (India) Pvt. Ltd., the ITAT directed the AO to delete the penalty levied u/s 271B, allowing the assessee's appeal on the ground of reasonable cause for delay in audit compliance. Highlights Income Tax Sat, 04 Jan 2025 08:44:24 +0530 https://www.taxtmi.com/highlights?id=84580