https://www.taxtmi.com/caselaws?id=37601 Penalty under section 271(1)(a) was sustainable where the return was not filed within time without reasonable cause, because the statutory discretion turns on the authority's satisfaction of default and no separate recording of additional reasons is required once that condition is met. Interest for delayed filing is compensatory, not punitive, so its levy does not bar penalty or create double punishment. The assessee's objections therefore failed and liability to penalty was affirmed. en-us Mon, 02 Feb 1976 00:00:00 +0530 Tue, 30 Mar 2010 18:32:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37601 Penalty under section 271(1)(a) was sustainable where the return was not filed within time without reasonable cause, because the statutory discretion turns on the authority's satisfaction of default and no separate recording of additional reasons is required once that condition is met. Interest for delayed filing is compensatory, not punitive, so its levy does not bar penalty or create double punishment. The assessee's objections therefore failed and liability to penalty was affirmed. Case-Laws Income Tax Mon, 02 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37601