https://www.taxtmi.com/caselaws?id=56204 The Tribunal upheld the penalties imposed under section 271(1)(a) of the Income-tax Act for the assessment years 1969-70 and 1970-71, dismissing the appeals. It found that the assessee had no reasonable cause for the delay in filing returns, rejecting arguments related to ownership disputes. The Tribunal held that the imposition of penalties was justified despite interest being charged under section 139(8), distinguishing previous cases where returns were filed within the prescribed time limits. The Commissioner (Appeals) order was affirmed, concluding that the penalties were correctly imposed. en-us Tue, 09 Apr 1996 00:00:00 +0530 Thu, 02 Dec 2010 12:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56204 The Tribunal upheld the penalties imposed under section 271(1)(a) of the Income-tax Act for the assessment years 1969-70 and 1970-71, dismissing the appeals. It found that the assessee had no reasonable cause for the delay in filing returns, rejecting arguments related to ownership disputes. The Tribunal held that the imposition of penalties was justified despite interest being charged under section 139(8), distinguishing previous cases where returns were filed within the prescribed time limits. The Commissioner (Appeals) order was affirmed, concluding that the penalties were correctly imposed. Case-Laws Income Tax Tue, 09 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56204