https://www.taxtmi.com/caselaws?id=58697 Penalty for failure to file a return within time was held unjustified where the return originally showed income below the taxable limit, no notice under section 139(2) had been served during the assessment year, and the return was later filed in response to notice under section 148. On those facts, there was no obligation to file a voluntary return under section 139(1), and the later disallowances increasing assessed income did not conclusively establish knowledge of taxable income. The assessee was given the benefit of doubt on reasonable cause, so penalty under section 271(1)(a) was deleted. en-us Thu, 04 Mar 1976 00:00:00 +0530 Tue, 21 Dec 2010 16:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58697 Penalty for failure to file a return within time was held unjustified where the return originally showed income below the taxable limit, no notice under section 139(2) had been served during the assessment year, and the return was later filed in response to notice under section 148. On those facts, there was no obligation to file a voluntary return under section 139(1), and the later disallowances increasing assessed income did not conclusively establish knowledge of taxable income. The assessee was given the benefit of doubt on reasonable cause, so penalty under section 271(1)(a) was deleted. Case-Laws Income Tax Thu, 04 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58697