https://www.taxtmi.com/caselaws?id=59884 The Appellate Tribunal ITAT CALCUTTA-A canceled penalties imposed under section 271(1)(a) for delayed submission of income tax returns for assessment years 1982-83 and 1983-84. The penalties were sustained by the CIT (A) but overturned by the Tribunal due to delays caused by the seizure of books of account during a search at the assessee's business premises. The Tribunal found the delay reasonable, considering the circumstances, lack of intentional non-compliance, and minimal tax dues after adjustments. Consequently, the penalties were deemed unwarranted, and the appeals by the assessee were allowed, leading to the cancellation of penalties for both years. en-us Fri, 06 Aug 1993 00:00:00 +0530 Sat, 01 Jan 2011 16:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59884 The Appellate Tribunal ITAT CALCUTTA-A canceled penalties imposed under section 271(1)(a) for delayed submission of income tax returns for assessment years 1982-83 and 1983-84. The penalties were sustained by the CIT (A) but overturned by the Tribunal due to delays caused by the seizure of books of account during a search at the assessee's business premises. The Tribunal found the delay reasonable, considering the circumstances, lack of intentional non-compliance, and minimal tax dues after adjustments. Consequently, the penalties were deemed unwarranted, and the appeals by the assessee were allowed, leading to the cancellation of penalties for both years. Case-Laws Income Tax Fri, 06 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59884