Tax Audit Penalty Waived: Reasonable Cause for Delay in Statutory Audit Report Submission Accepted u/s 273B.

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....Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed sufficient and reasonable cause within the meaning of section 273B of the Act and hence, could not be invited with the levy of penalty under section 271B. - Income declared by the assessee in the revised computation of income in the sum has been indeed accepted by the AO in the scrutiny assessment - No penalty - AT....