No Penalty under Section 271B for Delayed Tax Audit (Auditor Unwell)

Amit Kumar Chatterjee Vs ITO (ITAT Kolkata) In the recent Income Tax Appellate Tribunal (ITAT) ruling, Amit Kumar Chatterjee vs Income Tax Officer (ITO), the court ruled that penalties could not be imposed if the assessee provides reasonable cause for delays in filing books of accounts, under Section 273B of the Income Tax Act, 1961. The appeal pertained to the Assessment Year 2016-17, where the assessee filed his return late by one day, leading to a penalty imposition. Mr. Chatterjee argued that the delay occurred due to the illness of his auditor and technical issues with the income tax port...