1975 (8) TMI 53

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....69. The assessee is a firm. They closed their accounts on the 31st December of every year. The return were due by 30th of June but they were furnished only on 4th Dec., 1967 for the asst. yr. 1967-68 and on 19th Nov., 1968 for the asst. yr. 1968-69. For the year 1967-68 there was a general extension of time upto 15th Aug., 1967 as given by the Government and therefore the delay was a little more t....

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....aterial to show that there was conscious disregard on the part of the assessee. As we noted above, the delay is only for a very short period. Considering the explanation given by the assessee we cannot say that there was any conscious disregard on the part of the assessee so as to call for a levy of penalty. The Departmental Representative drew our attention to the fact that there is no evidence t....