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<h1>Court reinstates penalty on assessee for return filing delay, finding Tribunal's cancellation unjustified.</h1> The High Court of Allahabad reinstated a penalty on an assessee for delay in filing the return, ruling that the Tribunal erred in canceling the penalty ... Delay In Filing Return, Penalty The High Court of Allahabad held that the Tribunal erred in canceling a penalty imposed on an assessee for delay in filing the return without recording a finding of reasonable cause for the delay. The Tribunal's reasoning that the assessee did not wish to evade tax was deemed irrelevant, and the penalty was reinstated in favor of the Revenue. The Tribunal was advised to reconsider the matter in light of the court's observations.