Cause, Not Length, Key for Delay Condonation for Section 271B Penalty Appeal

Syedali Ebrahim Vs ACIT (ITAT Cochin) In the case of Syedali Ebrahim vs ACIT, the Income Tax Appellate Tribunal (ITAT) Cochin addressed appeals filed by the assessee against orders from the National Faceless Appeal Centre (CIT(A)) concerning penalty levies under section 271B for Assessment Years 2010-11 to 2014-15. The assessee, an individual engaged in steel trading, had failed to submit the mandatory tax audit report under section 44AB. Consequently, the Assessing Officer levied a penalty of Rs. 1,00,000 for AY 2010-11 and presumably for the other years as well, following the assessee inabil...