Levy of penalty u/s 271B - Sufficient / reasonable cause for the ...

Tax Audit Delay Justified: Penalty Overturned by Tribunal for Reasonable Cause in Late Filing Case.

March 9, 2024

Case Laws Income Tax AT

Levy of penalty u/s 271B - Sufficient / reasonable cause for the delay in filing the tax audit report. - The appellant argued that the delay was due to the late receipt of the audit report from the Joint Registrar. The ITAT, after examining the facts and circumstances, found that the appellant had demonstrated a reasonable cause for the delay, and the penalty imposed by the Revenue was unjustified. As a result, the tribunal allowed the appellant's appeal and directed the deletion of the penalty.

View Source

← Previous Next →

Levy of penalty u/s 271B - Sufficient / reasonable cause for the ...

Tax Audit Delay Justified: Penalty Overturned by Tribunal for Reasonable Cause in Late Filing Case.

March 9, 2024

Case Laws Income Tax AT

You may also like:

Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

Levy of penalty u/s 271B – Delay in getting and furnished Tax Audit report - delay in completion of statutory audit was reasonable cause for non-compliance with section...

The assessee delayed filing the TDS statement, leading to late fees u/s 234E. The Assessing Officer issued an order u/s 200A regarding the late filing. The assessee...

The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

Penalty u/s 271B - delay in filing tax audit report - reasonable / bonafide cause - The assessee is not a habitual defaulter for filing the tax audit report. Therefore,...

The assessee was levied penalty u/s 271B for delay in filing the audit report u/s 44AB within the stipulated time. The assessee contended that the invoices and other...

The assessees, being cooperative societies, had no control over the timely completion of audits by statutory auditors as mandated u/s 44AB of the Income Tax Act. The...

Penalty u/s 271B - late filing of Tax Audit Report in Form 3CA - The record shows the same to have been obtained on 26.2.2018. The question of explaining the delay by...

Penalty levied u/s 271B - delay in filing the audit report under section 44AB - reasonable cause of delay - The delay was caused due to search conducted by the...

Levy of penalty u/s 271B - failure to get the accounts audited and furnished the audit report before the specified due date - Statutory auditors appointed by the CA&G -...

Audit of accounts u/s 44AB - delay in appointing auditor and getting audit report - Penalty u/s 273B - assessee justified the delay - no penalty - HC

Penalty imposed u/s. 272A(2)(k) - late filing of TDS returns - reasons for delay - the filing of quarterly statements is consequential to payment of taxes. The delayed...

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...

Delayed adjudication of show cause notice without reasonable cause - Delay in finalizing assessments and issuing demand - Classification of goods under appropriate...

Quick Updates: