1980 (12) TMI 90

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....delayed filing of the WT return for asst. yr. 1974-75. 2. The facts briefly are that the due date for the filing of the return was30th June, 1974, but it was filed actually on31st Jan., 1975, showing total wealth of Rs. 1,37,540. The ld. WTO levied the penalty for 7 months on the ground that the assessee had no explanation to offer for the delay in the filing of the WT return. Before the ld. AA....

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....ssessee and hence penalty should not have been levied. The ld. AAC, however, did not feel satisfied with the explanation given and he upheld the levy of the penalty. 3. Before us the facts have been repeated. We feel that the assessee had valid reasons for the delay in the filing of the return. As stated the due date for the filing of the return was30th June, 1974. Just before the due date the ....