https://www.taxtmi.com/caselaws?id=67029 The Appellate Tribunal ITAT Indore affirmed the reduction of the penalty under section 271(1)(a) of the IT Act for delay in filing the return of income for the assessment year 1974-75. The Tribunal upheld the decision to reduce the penalty from five months to one month, considering the reasonable cause for the delay attributed to the firm's failure to communicate share income and the lack of communication from the ITO regarding the extension of time applied for by the assessee. The Tribunal's decision was supported by legal precedents and the specific circumstances of the case. en-us Thu, 07 Aug 1980 00:00:00 +0530 Tue, 08 Mar 2011 17:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67029 The Appellate Tribunal ITAT Indore affirmed the reduction of the penalty under section 271(1)(a) of the IT Act for delay in filing the return of income for the assessment year 1974-75. The Tribunal upheld the decision to reduce the penalty from five months to one month, considering the reasonable cause for the delay attributed to the firm's failure to communicate share income and the lack of communication from the ITO regarding the extension of time applied for by the assessee. The Tribunal's decision was supported by legal precedents and the specific circumstances of the case. Case-Laws Income Tax Thu, 07 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67029