https://www.taxtmi.com/caselaws?id=35709 Penalty under section 271(1)(a) for failure to furnish a return in time was treated as sustainable where the Tribunal found no reasonable cause for the delay, that finding of fact satisfying the statutory conditions for penalty. The partner's liability was considered independent of the firm's penalty, so a similar penalty on the firm did not prevent penalty on the partner where the partner's default was established. Charging interest for delayed compliance did not nullify the separate penalty liability, and filing the return within the extended period under section 139(4) did not erase the earlier default. The reference was answered in favour of the Revenue and the penalty was upheld. en-us Tue, 02 May 1978 00:00:00 +0530 Tue, 16 Mar 2010 12:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35709 Penalty under section 271(1)(a) for failure to furnish a return in time was treated as sustainable where the Tribunal found no reasonable cause for the delay, that finding of fact satisfying the statutory conditions for penalty. The partner's liability was considered independent of the firm's penalty, so a similar penalty on the firm did not prevent penalty on the partner where the partner's default was established. Charging interest for delayed compliance did not nullify the separate penalty liability, and filing the return within the extended period under section 139(4) did not erase the earlier default. The reference was answered in favour of the Revenue and the penalty was upheld. Case-Laws Income Tax Tue, 02 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35709