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2019 (1) TMI 222 - HC - Income TaxPenalty u/s 271B - failure to file the audit report - sufficient cause for not filing the audit report before the last date for filing the same namely 30.9.2012 - power to condone the delay in filing the audit report u/s 273B - appellant submited that during the said assessment year namely 2011-12, the assessee's father and mother passed away, as a result of which, the audit report could not be filed - Held that:- Admittedly, the reasons assigned by the assessee have not been found to be false nor with any mala fide intention, the reasons were assigned. Therefore, this Court is of the view that the explanation offered by the assessee can be taken as a reasonable cause for his failure to file the audit report within time. We are also aware that the assessment was completed under Section 143(3) only on 29.3.2015 and on that date, the audit report was very much available with the Assessing Officer. We find that the non filing of the tax audit report before 30.9.2012 is a technical breach and admittedly, the assessee filed the audit report along with the return of income on 31.3.2013 and that the assessment was framed by the Assessing Officer only on 29.3.2015, on which date, the audit report was very much on the file of the Assessing Officer. Thus, we are of the view that the explanation offered by the assessee can be accepted as a reasonable cause for his failure to file the audit report within time and the case on hand is not a fit case for imposing penalty on the appellant. - Decided in favour of assessee
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