https://www.taxtmi.com/caselaws?id=468686 Penalty for delayed furnishing of a tax audit report was held unsustainable where the assessee established reasonable cause for the delay, including medical evidence of the accountant's ill-health. The report had been obtained well before the extended due date and was available before completion of assessment, so the delay was treated as a technical default rather than a deliberate failure. The view that delay automatically attracted penalty was rejected, and the penalty was set aside. en-us Thu, 06 Feb 2025 00:00:00 +0530 Sun, 17 May 2026 09:19:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468686 Penalty for delayed furnishing of a tax audit report was held unsustainable where the assessee established reasonable cause for the delay, including medical evidence of the accountant's ill-health. The report had been obtained well before the extended due date and was available before completion of assessment, so the delay was treated as a technical default rather than a deliberate failure. The view that delay automatically attracted penalty was rejected, and the penalty was set aside. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468686