Statutory audit delay is reasonable cause for delayed submission of tax audit Report

M/s. Giral Lignite Power Ltd. Vs. ACIT (ITAT Jaipur) In the instant case, the C&AG has appointed the statutory auditor of the assessee company on 02.09.2014 and after confirmation of remuneration and other terms of appointment by the Board of Directors, the statutory auditors have given their acceptance on 22.09.2014. The statutory audit was thereafter undertaken and the statutory auditors have given their audit report on 15.01.2015 and thereafter the tax auditor completed the tax audit on 28.09.2015. We therefore find that the facts of the present case are pari-materia to the facts in cas...