https://www.taxtmi.com/caselaws?id=61408 Voluntary disclosure income is excluded from the penalty computation for belated returns, and the remaining tax position must be tested on the balance income alone. Where advance tax already exceeds the tax due on that balance, penalty is not exigible on that footing. The note also treats seizure of books, the need to inspect and reconcile Department-held records, and mistakes in copying as sufficient reasonable cause for delay in filing returns. It further states that mens rea is not required for this penalty inquiry; the relevant test is whether reasonable cause for the default is established. en-us Tue, 26 Apr 1988 00:00:00 +0530 Sun, 06 Feb 2011 03:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61408 Voluntary disclosure income is excluded from the penalty computation for belated returns, and the remaining tax position must be tested on the balance income alone. Where advance tax already exceeds the tax due on that balance, penalty is not exigible on that footing. The note also treats seizure of books, the need to inspect and reconcile Department-held records, and mistakes in copying as sufficient reasonable cause for delay in filing returns. It further states that mens rea is not required for this penalty inquiry; the relevant test is whether reasonable cause for the default is established. Case-Laws Income Tax Tue, 26 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61408