https://www.taxtmi.com/caselaws?id=56801 The appeal against the cancellation of the penalty under s. 271B of the IT Act for failure to get accounts audited within the specified time under s. 44AB for the assessment year 1990-91 was dismissed. The Tribunal upheld the deletion of the penalty, finding that the assessee had complied with s. 44AB by filing the tax audit report on time and had a reasonable cause for the delay in obtaining the statutory audit report. Therefore, no penal liability was imposed on the assessee for that assessment year. en-us Fri, 30 Oct 1998 00:00:00 +0530 Mon, 06 Dec 2010 17:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56801 The appeal against the cancellation of the penalty under s. 271B of the IT Act for failure to get accounts audited within the specified time under s. 44AB for the assessment year 1990-91 was dismissed. The Tribunal upheld the deletion of the penalty, finding that the assessee had complied with s. 44AB by filing the tax audit report on time and had a reasonable cause for the delay in obtaining the statutory audit report. Therefore, no penal liability was imposed on the assessee for that assessment year. Case-Laws Income Tax Fri, 30 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56801