https://www.taxtmi.com/caselaws?id=58403 Penalty for late filing of a return under section 271(1)(a) was held unsustainable where the assessee had applied in Form 6 for extension of time and the delay stemmed from non-finalisation of the firm's accounts. The extension request was treated as contemporaneous evidence of difficulty in filing on time, and the absence of any order or communication on that request was noted as a relevant circumstance. The assessee could not be faulted for the delay in the circumstances, and reasonable cause was accepted. The penalty was cancelled in favour of the assessee. en-us Wed, 12 May 1976 00:00:00 +0530 Sat, 18 Dec 2010 18:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58403 Penalty for late filing of a return under section 271(1)(a) was held unsustainable where the assessee had applied in Form 6 for extension of time and the delay stemmed from non-finalisation of the firm's accounts. The extension request was treated as contemporaneous evidence of difficulty in filing on time, and the absence of any order or communication on that request was noted as a relevant circumstance. The assessee could not be faulted for the delay in the circumstances, and reasonable cause was accepted. The penalty was cancelled in favour of the assessee. Case-Laws Income Tax Wed, 12 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58403