https://www.taxtmi.com/caselaws?id=470185 Reasonable cause arising from a delayed statutory audit under the Kerala co-operative societies law excused the belated furnishing of tax-audit reports. As the statutory audit certificate delay caused the tax-audit delay, and the audit reports were available to the assessing authority when assessments were finalised, the applicable jurisdictional precedent supported non-levy of penalty. The penalties imposed for both assessment years were 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=470185 Reasonable cause arising from a delayed statutory audit under the Kerala co-operative societies law excused the belated furnishing of tax-audit reports. As the statutory audit certificate delay caused the tax-audit delay, and the audit reports were available to the assessing authority when assessments were finalised, the applicable jurisdictional precedent supported non-levy of penalty. The penalties imposed for both assessment years were deleted. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470185