https://www.taxtmi.com/caselaws?id=415790 The tribunal in Chennai overturned the penalty imposed under section 272A(2)(e) for delayed filing of income tax returns for assessment years 2007-08 to 2010-11. The tribunal found the illness of the Managing Trustee to be a valid reason for the delay, constituting a reasonable cause. It disagreed with the Assessing Officer's adverse findings and directed the deletion of the penalty, granting relief to the assessee and emphasizing the importance of considering factual circumstances in penalty assessments. en-us Wed, 08 Dec 2021 00:00:00 +0530 Tue, 14 Dec 2021 08:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415790 The tribunal in Chennai overturned the penalty imposed under section 272A(2)(e) for delayed filing of income tax returns for assessment years 2007-08 to 2010-11. The tribunal found the illness of the Managing Trustee to be a valid reason for the delay, constituting a reasonable cause. It disagreed with the Assessing Officer's adverse findings and directed the deletion of the penalty, granting relief to the assessee and emphasizing the importance of considering factual circumstances in penalty assessments. Case-Laws Income Tax Wed, 08 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415790