https://www.taxtmi.com/caselaws?id=69312 The Appellate Tribunal ITAT MADRAS-A ruled in favor of the Assessee in a case involving a penalty imposed for delay in filing income tax return for the assessment year 1973-74. The Additional Commissioner of Income Tax (Appeals) canceled the penalty after finding that the Assessee had applied for an extension of time which was acknowledged by the Department. The Tribunal accepted the Assessee's explanation for the delay, attributing it to the seizure of records by the Department, and concluded that the delay was not intentional to avoid tax payment. As a result, the Tribunal dismissed the departmental appeal, upholding the cancellation of the penalty. en-us Fri, 10 Aug 1979 00:00:00 +0530 Wed, 06 Apr 2011 11:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69312 The Appellate Tribunal ITAT MADRAS-A ruled in favor of the Assessee in a case involving a penalty imposed for delay in filing income tax return for the assessment year 1973-74. The Additional Commissioner of Income Tax (Appeals) canceled the penalty after finding that the Assessee had applied for an extension of time which was acknowledged by the Department. The Tribunal accepted the Assessee's explanation for the delay, attributing it to the seizure of records by the Department, and concluded that the delay was not intentional to avoid tax payment. As a result, the Tribunal dismissed the departmental appeal, upholding the cancellation of the penalty. Case-Laws Income Tax Fri, 10 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69312