https://www.taxtmi.com/caselaws?id=65556 The ITAT allowed the appeals by the assessee, directing the deletion of penalties imposed under s. 272A(2) for the relevant assessment years. The ITAT found merit in the argument that the trust had filed returns voluntarily based on advice from a new chartered accountant, justifying the failure to file returns on time. Emphasizing the standard of "reasonable cause," the ITAT concluded that the plea of reasonable cause should be accepted, leading to the deletion of penalties. en-us Fri, 10 Feb 2006 00:00:00 +0530 Wed, 18 Jul 2012 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65556 The ITAT allowed the appeals by the assessee, directing the deletion of penalties imposed under s. 272A(2) for the relevant assessment years. The ITAT found merit in the argument that the trust had filed returns voluntarily based on advice from a new chartered accountant, justifying the failure to file returns on time. Emphasizing the standard of "reasonable cause," the ITAT concluded that the plea of reasonable cause should be accepted, leading to the deletion of penalties. Case-Laws Income Tax Fri, 10 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65556