No Penalty for Delayed Tax Audit: Financial Hardship and Legal Issues Cited as Reasonable Cause u/s 273B.

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....Penalty u/s 271B - delay filing of tax audit report contravening section 44AB - In factual matrix the assessee was suffering a financial exigency with legal battel. - This is a sufficient reason for delay in filing the tax audit report before the authority which follow the Section 273B of the Act. - No penalty - AT....