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2013 (7) TMI 423 - MADRAS HIGH COURTPenalty u/s 271B - delay in filing an audit report u/s 44AB - The fact that the surgery was performed in the year 1993 does not mean that the case of the assessee put forth through the chartered accountant that the chartered accountant was unwell to complete the tax audit in time could not be lightly rejected on the mere fact that the chartered accountant produced records as to his hospitalization for surgery in the year 1993 - going by the nature of illness that the chartered accountant had and considering the fact that he had been in-charge of the auditing of the assessee's accounts and had filed the tax audit report promptly for the earlier years which fact could not be controverted. The delay of 29 days in filing of the tax audit report under section 44AB merited to be condoned – court did not agree with the Tribunal on the question of reasonable cause and that going by the materials explaining the delay – the condonation should be allowed – order of the tribunal set aside – penalty imposed upon the assessee to be cancelled - appeal allowed in the favour of assessee.
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