https://www.taxtmi.com/caselaws?id=470227 Delayed furnishing of a tax audit report may constitute reasonable cause where the report is filed before reassessment is completed, is available to and considered by the Assessing Officer, and causes no prejudice or loss to the Revenue. The delay was characterised as a technical and venial breach without mala fide intention. On these facts, penalty for failure to furnish the audit report within the prescribed time was not leviable and was deleted. en-us Wed, 04 Mar 2026 00:00:00 +0530 Mon, 20 Jul 2026 20:32:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470227 Delayed furnishing of a tax audit report may constitute reasonable cause where the report is filed before reassessment is completed, is available to and considered by the Assessing Officer, and causes no prejudice or loss to the Revenue. The delay was characterised as a technical and venial breach without mala fide intention. On these facts, penalty for failure to furnish the audit report within the prescribed time was not leviable and was deleted. Case-Laws Income Tax Wed, 04 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470227