https://www.taxtmi.com/caselaws?id=65719 Penalties for delayed filing of returns under section 271(1)(a) were held unwarranted where the assessee explained the delay by stating that its accountant had not completed the accounts and that the business was newly started and inexperienced. The explanation was rejected without calling for supporting material or giving an opportunity to meet the perceived deficiency, and the Revenue did not controvert the explanation. On those facts, there was no basis to conclude that the delay was without reasonable cause, so the penalties were cancelled. en-us Wed, 17 Jan 1979 00:00:00 +0530 Fri, 18 Feb 2011 14:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65719 Penalties for delayed filing of returns under section 271(1)(a) were held unwarranted where the assessee explained the delay by stating that its accountant had not completed the accounts and that the business was newly started and inexperienced. The explanation was rejected without calling for supporting material or giving an opportunity to meet the perceived deficiency, and the Revenue did not controvert the explanation. On those facts, there was no basis to conclude that the delay was without reasonable cause, so the penalties were cancelled. Case-Laws Income Tax Wed, 17 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65719