https://www.taxtmi.com/caselaws?id=67889 The Appellate Tribunal ITAT Jaipur revoked the penalties imposed on a firm for late filing of income tax returns for assessment years 1976-77 and 1977-78. The Tribunal found the delay of two months reasonable due to complexities in finalizing accounts, considering discrepancies in the trial balance. Citing the Hindustan Steel Ltd. case, the Tribunal deemed the delay technical and not warranting penalties, allowing the appeals and overturning the penalties. en-us Fri, 14 Dec 1984 00:00:00 +0530 Tue, 15 Mar 2011 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67889 The Appellate Tribunal ITAT Jaipur revoked the penalties imposed on a firm for late filing of income tax returns for assessment years 1976-77 and 1977-78. The Tribunal found the delay of two months reasonable due to complexities in finalizing accounts, considering discrepancies in the trial balance. Citing the Hindustan Steel Ltd. case, the Tribunal deemed the delay technical and not warranting penalties, allowing the appeals and overturning the penalties. Case-Laws Income Tax Fri, 14 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67889