TMI Blog2010 (12) TMI 758X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT CHANDIGARH) wherein under similar circumstances the Tribunal held that the assessee had reasonable cause as it filed return within due date and also filed the audit report u/s 44AB along with return - Accordingly, the questions of law are answered in favour of the assessee. - 111 of 2001 - - - Dated:- 7-12-2010 - MR. JUSTICE ADARSH KUMAR GOEL, MR. JUSTICE AJAY KUMAR MITTAL, JJ. Ms. Urvashi Dhugga, Standing Counsel for the respondent. AJAY KUMAR MITTAL, J. This appeal under Section 260A of the Income-Tax Act, 1961 (for short the Act ) has been filed by the assessee against the order dated 31.7.2000, passed by the Income Tax Appellate Tribunal Chandigarh Bench A Chandigarh (in short the Tribunal ) in ITA No. 1266 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 1,00,000/- on the assessee. The appeal preferred by the assessee was dismissed by the Commissioner of Income-tax (Appeals) {in short the CIT(A) }, and consequently, imposition of penalty was upheld, vide order dated 6.7.1993. The assessee carried appeal before the Tribunal. The Tribunal also dismissed the appeal of the assessee, vide order dated 31.7.2000. We have heard learned counsel for the respondent and have perused the record. The learned counsel for assessee had pleaded that there was a reasonable cause within the meaning of Section 273B, which was inserted by Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986 w.e.f. 10.9.1986, as the statutory auditors of the appellant Company were appointed belatedly by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 271B of the Act was exigible. The relevant findings recorded in the context in paras 2.3 and 2.4 thereof read thus: 2.3. The learned counsel relied heavily on the orders of the learned CIT(A). He submitted that there is no default vis-a-vis the provisions of Section 44 AB and that the assessee had filed tax audit report along with the return of income. He further submitted that the assessee had reasonable cause as it was consistently writing to the C AG of India for appointment of auditors. He relied on the decisions of the Tribunal reported in 68 ITD 560 and 71 ITD 117 as also the decision of the Hon ble Kerala High Court reported in 235 ITR 481. 2.4. I have carefully considered the rival submissions and have perused ..... X X X X Extracts X X X X X X X X Extracts X X X X
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