https://www.taxtmi.com/caselaws?id=56341 The Tribunal canceled the penalty of Rs. 14,780 imposed on a registered firm for late filing of the return under s. 271(1)(a) of the IT Act. It held that the failure of the Income Tax Officer to consider the extension application and explanation provided by the assessee amounted to an arbitrary exercise of discretion. The Tribunal emphasized the importance of allowing the assessee to explain the delay and ruled that non-consideration of explanations could not justify the imposition of a penalty. en-us Fri, 12 Oct 1990 00:00:00 +0530 Fri, 03 Dec 2010 11:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56341 The Tribunal canceled the penalty of Rs. 14,780 imposed on a registered firm for late filing of the return under s. 271(1)(a) of the IT Act. It held that the failure of the Income Tax Officer to consider the extension application and explanation provided by the assessee amounted to an arbitrary exercise of discretion. The Tribunal emphasized the importance of allowing the assessee to explain the delay and ruled that non-consideration of explanations could not justify the imposition of a penalty. Case-Laws Income Tax Fri, 12 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56341