https://www.taxtmi.com/caselaws?id=62702 Penalty for delayed filing of a return was not sustainable where the assessee showed reasonable cause for the default and the Revenue failed to rebut the explanation as false. The assessee's commission agency business in fruits had a belated return filed after seeking extension on the ground that the books were incomplete and the trial balance did not tally. Those difficulties were found plausible in light of the nature and volume of the business, and the adverse orders had rejected the request summarily. The penalty under section 271(1)(a) of the Income-tax Act, 1961 was therefore cancelled and the deletion of penalty was upheld. en-us Tue, 21 Jul 1987 00:00:00 +0530 Fri, 21 Jan 2011 12:04:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62702 Penalty for delayed filing of a return was not sustainable where the assessee showed reasonable cause for the default and the Revenue failed to rebut the explanation as false. The assessee's commission agency business in fruits had a belated return filed after seeking extension on the ground that the books were incomplete and the trial balance did not tally. Those difficulties were found plausible in light of the nature and volume of the business, and the adverse orders had rejected the request summarily. The penalty under section 271(1)(a) of the Income-tax Act, 1961 was therefore cancelled and the deletion of penalty was upheld. Case-Laws Income Tax Tue, 21 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62702