https://www.taxtmi.com/caselaws?id=57689 The Tribunal upheld the AAC's decision, dismissing the Revenue's appeals and allowing the assessee's cross-objections for statistical purposes. The penalties for the assessment years 1967-68, 1968-69, and 1969-70 were deemed time-barred, penalties against a disrupted HUF were canceled, penalties were to be levied based on the relevant Acts, and there was found to be a reasonable cause for the delay in filing returns. The delay in filing Income-tax returns argument was not pursued further, and the quantification of penalties issue did not survive due to the cancellation of penalties. en-us Thu, 21 Aug 1980 00:00:00 +0530 Mon, 13 Dec 2010 09:56:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57689 The Tribunal upheld the AAC's decision, dismissing the Revenue's appeals and allowing the assessee's cross-objections for statistical purposes. The penalties for the assessment years 1967-68, 1968-69, and 1969-70 were deemed time-barred, penalties against a disrupted HUF were canceled, penalties were to be levied based on the relevant Acts, and there was found to be a reasonable cause for the delay in filing returns. The delay in filing Income-tax returns argument was not pursued further, and the quantification of penalties issue did not survive due to the cancellation of penalties. Case-Laws Wealth-tax Thu, 21 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57689