https://www.taxtmi.com/caselaws?id=24812 Reasonable cause for delayed return filing was accepted where the assessee's accounts were ready after audit, further time was needed to compile particulars, and the director's signature had to be obtained in the United Kingdom. On those facts, the Tribunal treated the return filed on 5 January 1978 as having been lodged within a reasonable time after completion of audit, and the finding of reasonable cause was upheld. As a result, penalty under section 271(1)(a) of the Income-tax Act, 1961 was not leviable. en-us Mon, 18 Jul 1988 00:00:00 +0530 Fri, 22 Jan 2010 15:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24812 Reasonable cause for delayed return filing was accepted where the assessee's accounts were ready after audit, further time was needed to compile particulars, and the director's signature had to be obtained in the United Kingdom. On those facts, the Tribunal treated the return filed on 5 January 1978 as having been lodged within a reasonable time after completion of audit, and the finding of reasonable cause was upheld. As a result, penalty under section 271(1)(a) of the Income-tax Act, 1961 was not leviable. Case-Laws Income Tax Mon, 18 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24812