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2004 (7) TMI 62 - MADHYA PRADESH HIGH COURTQuestion of law – Reference - imposition of penalty under section 271B - It was held that the assessee did file the audited accounts though late and the same were accepted by the authorities. The explanation offered by the assessee was also accepted being sufficient and genuine. It was on this basis, the penalty imposed was set aside by the Commissioner of Income-tax (Appeals) and upheld by the Tribunal. - Once the explanation offered by the assessee found favour with the authorities and the report was taken on record, this court as a reference court cannot again probe into the sufficiency of cause in filing the audit report. - In a case of this nature, no question of law arises – application filed by revenue dismissed
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