https://www.taxtmi.com/caselaws?id=67062 The Appellate Tribunal allowed the appeal of a registered firm against a penalty imposed by the Income Tax Officer for belatedly submitting the tax return for the assessment year 1972-73. The Tribunal considered the reasonable cause for the delay, attributing it to the death of a family member causing mental distress and hindering the finalization of accounts. Emphasizing the close relationship between the partners and the impact of the tragic event, the Tribunal overturned the penalty, highlighting the need to evaluate individual circumstances when imposing penalties under the Income Tax Act. en-us Wed, 27 Jul 1983 00:00:00 +0530 Tue, 08 Mar 2011 18:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67062 The Appellate Tribunal allowed the appeal of a registered firm against a penalty imposed by the Income Tax Officer for belatedly submitting the tax return for the assessment year 1972-73. The Tribunal considered the reasonable cause for the delay, attributing it to the death of a family member causing mental distress and hindering the finalization of accounts. Emphasizing the close relationship between the partners and the impact of the tragic event, the Tribunal overturned the penalty, highlighting the need to evaluate individual circumstances when imposing penalties under the Income Tax Act. Case-Laws Income Tax Wed, 27 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67062