ITAT deletes penalty for delay in submission of Tax Audit as Assessee was unwell & his Accountant left without prior notice

Saravana Foundation Vs ITO (ITAT Chennai) Against levy of penalty under section 271B of the Act, the assessee has submitted the reasons for the delay in filing the audit report before the ld. CIT(A) that the accounts audited under section 44AB of the Act belatedly as the assessee was not keeping good health and the Accountant has left without prior notice. It was further submission that the books of accounts could not be audited in time even the Accountant took away important letters and documents which hampered the audit work. It was further submission that accounts were audited before filing...