https://www.taxtmi.com/caselaws?id=29629 The High Court of Madras considered a case involving a penalty imposed on an assessee-company under section 271(1)(a) of the Income Tax Act, 1961 for a three-month delay in filing the return. Despite the rejection of the extension request, the Court held that the delay did not warrant a penalty as there was no deliberate defiance of the law or contumacious conduct. The Court criticized the lower authorities for overlooking the requirement of establishing a lack of reasonable cause for the delay and supported the Tribunal's decision to cancel the penalty, emphasizing the need for a detailed explanation in penalty cases. The Court ruled in favor of the assessee, canceling the penalty for the relevant assessment year. en-us Mon, 02 Nov 1981 00:00:00 +0530 Mon, 15 Mar 2010 12:08:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29629 The High Court of Madras considered a case involving a penalty imposed on an assessee-company under section 271(1)(a) of the Income Tax Act, 1961 for a three-month delay in filing the return. Despite the rejection of the extension request, the Court held that the delay did not warrant a penalty as there was no deliberate defiance of the law or contumacious conduct. The Court criticized the lower authorities for overlooking the requirement of establishing a lack of reasonable cause for the delay and supported the Tribunal's decision to cancel the penalty, emphasizing the need for a detailed explanation in penalty cases. The Court ruled in favor of the assessee, canceling the penalty for the relevant assessment year. Case-Laws Income Tax Mon, 02 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29629