https://www.taxtmi.com/caselaws?id=69199 The Tribunal upheld the Appellate Assistant Commissioner's decision to cancel the penalty imposed under section 27(1)(a) of the Income Tax Act 1961 for non-compliance with notice u/s.139(2) for the assessment year 1973-74. The Tribunal found that there was a reasonable cause for the delay in filing the return of income as the assessee had applied for an extension of time, which was not rejected by the department. The Tribunal concluded that there was no conscious disregard of statutory obligations, leading to the dismissal of the Revenue's appeal. en-us Thu, 18 Nov 1976 00:00:00 +0530 Tue, 05 Apr 2011 17:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69199 The Tribunal upheld the Appellate Assistant Commissioner's decision to cancel the penalty imposed under section 27(1)(a) of the Income Tax Act 1961 for non-compliance with notice u/s.139(2) for the assessment year 1973-74. The Tribunal found that there was a reasonable cause for the delay in filing the return of income as the assessee had applied for an extension of time, which was not rejected by the department. The Tribunal concluded that there was no conscious disregard of statutory obligations, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 18 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69199