https://www.taxtmi.com/caselaws?id=25475 Penalty for delayed filing under section 271(1)(a) is linked to the period of default and may be quantified month by month at the prescribed rate. Where reasonable cause is shown for part of the delay, the penalty can be confined only to the months for which the assessee failed to show such cause. On the facts noted, the Tribunal found reasonable cause for the entire delay except three months, and that finding was not challenged for the remaining period. The penalty was therefore properly restricted to three months of unexplained default. en-us Tue, 15 Sep 1981 00:00:00 +0530 Thu, 28 Jan 2010 18:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25475 Penalty for delayed filing under section 271(1)(a) is linked to the period of default and may be quantified month by month at the prescribed rate. Where reasonable cause is shown for part of the delay, the penalty can be confined only to the months for which the assessee failed to show such cause. On the facts noted, the Tribunal found reasonable cause for the entire delay except three months, and that finding was not challenged for the remaining period. The penalty was therefore properly restricted to three months of unexplained default. Case-Laws Income Tax Tue, 15 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25475