https://www.taxtmi.com/caselaws?id=466776 Penalty under Section 271B for delayed filing of the tax audit report may be deleted where the delay is supported by reasonable cause and no prejudice to revenue is shown; the tribunal accepted evidence of the managing partner's death and condoned delay, following precedent to delete the penalty. The operative effect is that imposition of the penalty was set aside and the appeal allowed to the extent of deleting the Section 271B penalty against the assessee. en-us Tue, 25 Feb 2025 00:00:00 +0530 Thu, 19 Feb 2026 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466776 Penalty under Section 271B for delayed filing of the tax audit report may be deleted where the delay is supported by reasonable cause and no prejudice to revenue is shown; the tribunal accepted evidence of the managing partner's death and condoned delay, following precedent to delete the penalty. The operative effect is that imposition of the penalty was set aside and the appeal allowed to the extent of deleting the Section 271B penalty against the assessee. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466776