Section 271B penalty deleted for delay in Tax Audit Due to Ongoing Assessment under other Laws

Erumapalayam Primary Agricultural Co-Op Credit Society Vs ITO (ITAT Chennai) The Ld. AR pleaded that there was sufficient cause for delay in the audit since the assessee being cooperative society, it was governed by the Tamil Nadu Cooperative Societies Act, 1983 and the relevant rules 1988. For the relevant AY, the accounts of the society could not be audited till the completion of the assessment. Since the delay in the completion of the audit was not due to any fault on the part of the assessee society in view of the fact that the assessee was not in control of the matters relating to the app...