https://www.taxtmi.com/caselaws?id=21288 The Tribunal upheld the penalty under Section 271(1)(a) of the Income-tax Act, 1961 for the assessment years 1967-68 and 1968-69 due to the assessee's failure to file returns on time. The Tribunal found the explanations provided for the delay in filing returns, related to the non-availability of share income from two firms, to be insufficient. The court ruled in favor of the Revenue, emphasizing the assessee's responsibility to establish a reasonable cause for any delay in filing returns, as per relevant case law. en-us Thu, 24 Sep 1992 00:00:00 +0530 Sat, 21 Nov 2009 12:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21288 The Tribunal upheld the penalty under Section 271(1)(a) of the Income-tax Act, 1961 for the assessment years 1967-68 and 1968-69 due to the assessee's failure to file returns on time. The Tribunal found the explanations provided for the delay in filing returns, related to the non-availability of share income from two firms, to be insufficient. The court ruled in favor of the Revenue, emphasizing the assessee's responsibility to establish a reasonable cause for any delay in filing returns, as per relevant case law. Case-Laws Income Tax Thu, 24 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21288