https://www.taxtmi.com/caselaws?id=35715 The High Court held that there was a reasonable cause for the delay in filing income tax returns due to the assesses' inability to ascertain their income without finalized firm accounts. The Court found that penalties could be imposed on both the firm and the partner without constituting double punishment. As the Appellate Tribunal already determined the reasonable cause, the Court declined to address the issue further, emphasizing it as a factual determination not requiring legal principles. The judgment underscored the significance of establishing reasonable cause for late filings and clarified penalty applicability to both firm and partner. en-us Tue, 23 Sep 1980 00:00:00 +0530 Tue, 16 Mar 2010 12:33:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35715 The High Court held that there was a reasonable cause for the delay in filing income tax returns due to the assesses' inability to ascertain their income without finalized firm accounts. The Court found that penalties could be imposed on both the firm and the partner without constituting double punishment. As the Appellate Tribunal already determined the reasonable cause, the Court declined to address the issue further, emphasizing it as a factual determination not requiring legal principles. The judgment underscored the significance of establishing reasonable cause for late filings and clarified penalty applicability to both firm and partner. Case-Laws Income Tax Tue, 23 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35715