https://www.taxtmi.com/caselaws?id=39426 The High Court upheld the penalty order imposed by the Income-tax Officer despite procedural deficiencies, finding the delay in filing the return evident. The Court rejected the excuse of illness and demise of the accountant as reasonable cause for the delay. It clarified that the Officer's discretion in levying penalties is preserved under the Income-tax Act, and explicit recording of the basis for calculation is not mandatory. Any reduction in tax payable would correspondingly reduce the penalty amount, with the Court ruling against a reduction in penalty unless tax payable is decreased. en-us Tue, 09 Jul 1974 00:00:00 +0530 Fri, 16 Apr 2010 13:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39426 The High Court upheld the penalty order imposed by the Income-tax Officer despite procedural deficiencies, finding the delay in filing the return evident. The Court rejected the excuse of illness and demise of the accountant as reasonable cause for the delay. It clarified that the Officer's discretion in levying penalties is preserved under the Income-tax Act, and explicit recording of the basis for calculation is not mandatory. Any reduction in tax payable would correspondingly reduce the penalty amount, with the Court ruling against a reduction in penalty unless tax payable is decreased. Case-Laws Income Tax Tue, 09 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39426