Held that delay in obtaining audit reports from statutory auditors under Kerala Co-operative Societies Act and Rules is a reasonable cause. Penalty order is quashed.
Chavakkad Service Co-Operative Bank Ltd. v. ITO (2025) 302 Taxman 305 (Ker)(HC)
S. 271B : Penalty-Failure to get accounts audited-Delay in obtaining audit reports from statutory auditors under Kerala Co-operative Societies Act and Rules-Reasonable cause-Penalty order is quashed.[S.44AB, 273B]
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