1978 (8) TMI 108

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....tentions and as such for the sake of convenience are disposed of by a common order. 2. The returns of income were due to be filed in this case on 30th June of each year. They were, however, filed on28th Oct., 1963and30th Sept., 1964respectively. As the returns were filed late, the ITO for the reasons mentioned in the orders dt.31st March, 1975levied penalties of Rs. 865 and Rs. 2,236 respective....

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....against 2 months and 3 months taken by the ITO. The AAC accepted the alternative contention in regard to quantum and reduced the penalties to Rs. 432 and Rs.1,490 respectively. 4. It is against this order of the AAC that the assessee has come up in appeal to the Tribunal. It has been submitted by the assessee's representative that there was reasonable cause for filing belated returns, which wer....

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....ntative, on the other hand, has submitted that the assessee's explanation was too vague to be accepted. It was submitted that the AAC has mentioned in the order that "apart from the statement of the appellant there is nothing to show the extent of negligence of the accountant who had filed an application for extension of time upto15th Aug., 1963for the filing to the return for asst. yr. 1963-64." ....