https://www.taxtmi.com/caselaws?id=55889 Belated filing of an income-tax return did not justify penalty where the assessee had sought extension of time, the computation resulted in a refund, and no mens rea was shown. The Tribunal applied the principle that penalty liability cannot be sustained unless the legal foundation for it first exists, and held that the absence of a tax due position meant the basis for penal action was missing. Penalty was therefore not leviable and was cancelled in favour of the assessee. en-us Mon, 24 Feb 1986 00:00:00 +0530 Tue, 30 Nov 2010 15:27:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55889 Belated filing of an income-tax return did not justify penalty where the assessee had sought extension of time, the computation resulted in a refund, and no mens rea was shown. The Tribunal applied the principle that penalty liability cannot be sustained unless the legal foundation for it first exists, and held that the absence of a tax due position meant the basis for penal action was missing. Penalty was therefore not leviable and was cancelled in favour of the assessee. Case-Laws Income Tax Mon, 24 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55889