Failure to upload Tax Audit Report due to demise of Auditor is a reasonable cause

Abha Rajesh Kapoor Vs PCIT (ITAT Mumbai) We find that the issue-in-dispute is whether there was any reasonable cause for failure on the part of the assessee in uploading the Tax Audit Report on the Income-tax portal. In terms of section 44AB, the assessee was required to audit and upload audit report along with return of income. Penalty u/s 271B of the Act is leviable if the assessee fails in auditing its books of accounts if turnover is more than the prescribed limit or fails in uploading the said audit report. On perusal of the order of the Ld. CIT(A), we find that he has rejected the demise...