High Court affirms penalty for late tax return filing under Income Tax Act. Tribunal decision upheld.

The High Court of Calcutta upheld the penalty imposed under section 271(1)(a) of the Income Tax Act, 1961, finding no valid reason for the delay in filing the income tax return. The Tribunal's decision was considered fair and reasonable, with no error of law, ruling in favor of the revenue. No costs were awarded in this case.

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The High Court of Calcutta upheld the penalty imposed under section 271(1)(a) of the Income Tax Act, 1961. The Tribunal found no valid reason for the delay in filing the return of income, concluding that the assessee had no sufficient cause for the delay. The Tribunal's decision was deemed fair and reasonable, with no error of law. The question was answered in favor of the revenue. No costs were awarded in this case.

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