TaxTMI 
TaxTMI 
1976 (9) TMI 55
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....n furnishing the return due under s. 139 (1) of Income Tax Act. None of the reasons stated therein are sufficient to constitute reasonable cause. Had matters stood like that, the assessee has no case in the appeal. 2. But we found from the statement of facts furnished before the AAC along with the grounds of appeal, the following plea:— "The relevant accounting year is the year ended 14th ....
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....entative argues before us that it was argued before the Income Tax Officer. The absence of any reference to it by the Income Tax Officer in his penalty order is not conclusive of the fact that it was not argued before him. Even when raised in writing before the AAC he has completely omitted to refer to this aspect. If omission in an order of the Income Tax Authorities to a particular argument is c....
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....r that the additions made are only of a routine nature. If that is the position, the assessee is not bound in assessment year 1969-70 to furnish a voluntary return. But for this assessment year 1970-71 the limit was reduced by Finance Act to Rs. 10,000. So it became bound to file a voluntary return. But the plea of the assessee is that it was not aware of the newly cast obligation. The departmenta....
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....at it was not aware of this newly cast liability the possibility of its belief cannot in the facts and circumstances of this case ruled out. So if it was honestly not aware of its obligations to voluntarily furnish the return, and that plea seems to be true, there is reasonable cause for failure to furnish the return. After all what we have to find out is whether there is reasonable cause. In any ....