https://www.taxtmi.com/caselaws?id=470186 Delayed completion of the statutory audit under the Kerala Co-operative Societies law may constitute reasonable cause for late furnishing of a tax-audit report. Where that explanation remains uncontroverted, the applicable jurisdictional High Court ruling supports relief from penalty for delay in meeting the tax-audit reporting requirement. The contrary precedent does not apply once sufficient cause is established. Accordingly, no penalty for delayed furnishing of the tax-audit report is leviable, and the penalty is to be deleted. en-us Tue, 18 Mar 2025 00:00:00 +0530 Sat, 18 Jul 2026 20:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470186 Delayed completion of the statutory audit under the Kerala Co-operative Societies law may constitute reasonable cause for late furnishing of a tax-audit report. Where that explanation remains uncontroverted, the applicable jurisdictional High Court ruling supports relief from penalty for delay in meeting the tax-audit reporting requirement. The contrary precedent does not apply once sufficient cause is established. Accordingly, no penalty for delayed furnishing of the tax-audit report is leviable, and the penalty is to be deleted. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470186