https://www.taxtmi.com/caselaws?id=64119 The Tribunal allowed the appeals of the assessee for the assessment years 1963-64 and 1964-65, concerning late filing of income tax returns. The penalties imposed by the Income Tax Officer were reduced by the Appellate Assistant Commissioner (AAC) and ultimately deleted by the Tribunal. The Tribunal found that the delay in filing was due to the accountant's negligence, constituting a reasonable cause. It emphasized that penalties should not be imposed if the assessee did not act in utter disregard of legal obligations. As a result, the penalties were removed, and the appeals were successful. en-us Fri, 04 Aug 1978 00:00:00 +0530 Thu, 03 Feb 2011 18:39:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64119 The Tribunal allowed the appeals of the assessee for the assessment years 1963-64 and 1964-65, concerning late filing of income tax returns. The penalties imposed by the Income Tax Officer were reduced by the Appellate Assistant Commissioner (AAC) and ultimately deleted by the Tribunal. The Tribunal found that the delay in filing was due to the accountant's negligence, constituting a reasonable cause. It emphasized that penalties should not be imposed if the assessee did not act in utter disregard of legal obligations. As a result, the penalties were removed, and the appeals were successful. Case-Laws Income Tax Fri, 04 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64119