https://www.taxtmi.com/caselaws?id=8320 Penalty under section 271(1)(a) was considered sustainable only where the return was not filed within the time allowed without reasonable cause, even if it was later furnished in the prescribed manner. The provision was read as aimed at securing timely filing so assessment can be completed within the statutory period. On the facts, the assessee's explanation that the individual return was thought to be due only after registration of the firm was treated as a genuine and mitigating circumstance. Because penalty proceedings are penal in character, penalty could not be imposed unless absence of reasonable cause, deliberate defiance, or conscious disregard of the obligation was established. The delay was therefore excused. en-us Fri, 20 Aug 1971 00:00:00 +0530 Thu, 09 Apr 2009 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8320 Penalty under section 271(1)(a) was considered sustainable only where the return was not filed within the time allowed without reasonable cause, even if it was later furnished in the prescribed manner. The provision was read as aimed at securing timely filing so assessment can be completed within the statutory period. On the facts, the assessee's explanation that the individual return was thought to be due only after registration of the firm was treated as a genuine and mitigating circumstance. Because penalty proceedings are penal in character, penalty could not be imposed unless absence of reasonable cause, deliberate defiance, or conscious disregard of the obligation was established. The delay was therefore excused. Case-Laws Income Tax Fri, 20 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8320