https://www.taxtmi.com/caselaws?id=16299 Penalty for inordinate delay in filing an income-tax return was sustained because the assessee failed to show a bona fide explanation for the default. The return remained unfiled for several years after the due date and the delay continued even after notice under section 148. The explanation that accounts could not be finalised due to missing film-production vouchers was rejected, since the claimed loss related to a partner's individual business and not the firm's business. The authorities found no bona fide ground for the delay, so the penalty was upheld. en-us Thu, 17 Dec 1998 00:00:00 +0530 Sat, 05 Sep 2009 16:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16299 Penalty for inordinate delay in filing an income-tax return was sustained because the assessee failed to show a bona fide explanation for the default. The return remained unfiled for several years after the due date and the delay continued even after notice under section 148. The explanation that accounts could not be finalised due to missing film-production vouchers was rejected, since the claimed loss related to a partner's individual business and not the firm's business. The authorities found no bona fide ground for the delay, so the penalty was upheld. Case-Laws Income Tax Thu, 17 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16299