https://www.taxtmi.com/caselaws?id=57091 Penalty for late filing of a return under section 271(1)(a) was held unsustainable where the assessee showed reasonable cause for the delay. The delay arose in the context of business disruption and diversion of the partners' attention, and the surrounding circumstances indicated that the business was not being properly managed. The Tribunal noted that penalty for delayed filing is not automatic merely because the return was filed late. On those facts, reasonable cause was established and the penalty was cancelled in favour of the assessee. en-us Wed, 07 Sep 1977 00:00:00 +0530 Wed, 08 Dec 2010 14:27:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57091 Penalty for late filing of a return under section 271(1)(a) was held unsustainable where the assessee showed reasonable cause for the delay. The delay arose in the context of business disruption and diversion of the partners' attention, and the surrounding circumstances indicated that the business was not being properly managed. The Tribunal noted that penalty for delayed filing is not automatic merely because the return was filed late. On those facts, reasonable cause was established and the penalty was cancelled in favour of the assessee. Case-Laws Income Tax Wed, 07 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57091