https://www.taxtmi.com/caselaws?id=71055 The Tribunal dismissed the departmental appeal and allowed the cross-objection in full, canceling the penalty imposed under section 271(1)(a) of the IT Act, 1961 for the assessment year 1973-74. The delay in filing the return was deemed justified due to reasons beyond the assessee's control, particularly the delay caused by auditors in furnishing audited accounts. The Tribunal found the delay in filing the return reasonable, ultimately leading to the cancellation of the penalty order imposed by the Income Tax Officer. en-us Fri, 30 Mar 1979 00:00:00 +0530 Thu, 21 Apr 2011 11:28:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71055 The Tribunal dismissed the departmental appeal and allowed the cross-objection in full, canceling the penalty imposed under section 271(1)(a) of the IT Act, 1961 for the assessment year 1973-74. The delay in filing the return was deemed justified due to reasons beyond the assessee's control, particularly the delay caused by auditors in furnishing audited accounts. The Tribunal found the delay in filing the return reasonable, ultimately leading to the cancellation of the penalty order imposed by the Income Tax Officer. Case-Laws Income Tax Fri, 30 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71055