Dismissing the appeal of the assessee the Tribunal held that, Illness of Director cannot be the reasonable cause for long delay in complying audit obligation .Levy of penalty is held to be justified. (AY. 2012-13, 2013-14)
Haldar Foods (P.) Ltd. v. ITO (2019) 176 ITD 496/ 200 TTJ 896 / 181 DTR 257(Amritsar) (Trib.)
S. 271B : Penalty-Failure to get accounts audited-Illness of Director cannot be the reasonable cause for long delay in complying audit obligation – Levy of penalty is held to be justified. [S. 44AB, 273B]