https://www.taxtmi.com/caselaws?id=69693 The Tribunal allowed the appeal, ordering the refund of the penalty if already recovered. It held that the appellant had a reasonable cause for the delayed submission of the return, and the penalty could not be sustained. The Tribunal rejected the appellant's plea based on limitation, stating that the time taken to give an opportunity to the assessee to be reheard under the proviso to Section 129 should be excluded in computing the period of limitation. However, the second member found that the penalty order was barred by limitation and was ab initio illegal. en-us Wed, 04 May 1977 00:00:00 +0530 Mon, 11 Apr 2011 16:11:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69693 The Tribunal allowed the appeal, ordering the refund of the penalty if already recovered. It held that the appellant had a reasonable cause for the delayed submission of the return, and the penalty could not be sustained. The Tribunal rejected the appellant's plea based on limitation, stating that the time taken to give an opportunity to the assessee to be reheard under the proviso to Section 129 should be excluded in computing the period of limitation. However, the second member found that the penalty order was barred by limitation and was ab initio illegal. Case-Laws Income Tax Wed, 04 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69693