1998 (10) TMI 543

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.... the Income-tax Act, 1961 - Penalty - For failure to get accounts audited - Assessment year 1990-91 - Assessee's counsel to whom audit report under section 44AB was handed over in time, omitted to file same by specified date - Whether assessee was prevented by reasonable cause in filing report in time and could not, therefore, be penalised for default on part of his counsel - held, yes FACTS ....