https://www.taxtmi.com/caselaws?id=12954 The High Court of Madras upheld the penalty for delayed submission of return due to unsatisfactory explanations provided by the assessee despite multiple extension requests. The Tribunal found no valid reason for the delay beyond the periods covered by the extensions. The penalty levy was deemed correct and in favor of the Revenue. en-us Tue, 25 Sep 2001 00:00:00 +0530 Mon, 25 May 2009 15:11:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12954 The High Court of Madras upheld the penalty for delayed submission of return due to unsatisfactory explanations provided by the assessee despite multiple extension requests. The Tribunal found no valid reason for the delay beyond the periods covered by the extensions. The penalty levy was deemed correct and in favor of the Revenue. Case-Laws Income Tax Tue, 25 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12954