https://www.taxtmi.com/caselaws?id=57687 The Tribunal ruled in favor of the assessee, canceling the penalties imposed for late filing of returns for the assessment years 1972-73 to 1974-75. The Tribunal found that the absence of a proper accountant constituted a reasonable cause for the delays, emphasizing the importance of assessing explanations provided by the assessee. The Tribunal noted the lack of s. 14(2) notices for two of the years and concluded that the delays were not inordinate given the circumstances, ultimately overturning the penalty orders. en-us Sat, 24 May 1980 00:00:00 +0530 Mon, 13 Dec 2010 09:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57687 The Tribunal ruled in favor of the assessee, canceling the penalties imposed for late filing of returns for the assessment years 1972-73 to 1974-75. The Tribunal found that the absence of a proper accountant constituted a reasonable cause for the delays, emphasizing the importance of assessing explanations provided by the assessee. The Tribunal noted the lack of s. 14(2) notices for two of the years and concluded that the delays were not inordinate given the circumstances, ultimately overturning the penalty orders. Case-Laws Wealth-tax Sat, 24 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57687