https://www.taxtmi.com/caselaws?id=773959 Penalty for failure to furnish the audit report on time under section 271B was held not leviable where the report had been filed before completion of assessment and the delay was supported by reasonable cause. The assessee's explanation that the delay arose from the illness of his son was accepted as sufficient cause within section 273B, which bars penalty when the default is satisfactorily explained. The penalty was therefore deleted in favour of the assessee. en-us Mon, 26 May 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773959 Penalty for failure to furnish the audit report on time under section 271B was held not leviable where the report had been filed before completion of assessment and the delay was supported by reasonable cause. The assessee's explanation that the delay arose from the illness of his son was accepted as sufficient cause within section 273B, which bars penalty when the default is satisfactorily explained. The penalty was therefore deleted in favour of the assessee. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773959