TaxTMI 
TaxTMI 
1994 (10) TMI 84
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....e is an individual. The assessment year is 1991-92. The return for the year was due on or before 31st Oct., 1991. The assessee was also bound to file an audit report under s. 44AB along with the return. As the assessee had failed to do this, the ITO had sent an Inspector for verification. The report of verification was that the assessee was not in a position to produce the audit report and he was ....
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....h, according to him, would show that there was a reasonable cause for not presenting the audit report in time along with the return of income. The assessee is an individual staying in Bagalkot, Bijapur district. His auditors were M/s Laxminiwas & Jain, Chartered Accountants, who have an office at Sholapur. Shri Radheshyam Bhattad, Chartered Accountant, was incharge of this office at Sholapur Their....
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....rred to above had been produced before the authorities below. In our considered view it is entirely acceptable. The audit report had been prepared and signed on 24th Aug., 1991. 9. The ITO says that Inspector has been deputed to find out whether the audit report was ready or not. As the order says, the Inspector had reported something against the assessee. It is not apparent from record whether ....
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....ort was ready on 24th Aug., 1991 with the CAs who were in Sholapur. On account of communal riot and other problems the assessee might not have been able to go to Sholapur and obtain the same, but then this is a reasonable cause. The decisions cited above are entirely applicable to the case. Following the same and in the facts and circumstances of the case, we hold that for a reasonable cause the a....