1982 (2) TMI 129

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....; These three appeals by the Revenue are disposed of by a common order for convenience sake as they involve a common point. A short point for our consideration in these appeals is whether the default of the firm to finalise its account and file the return late would constitute a reasonable and sufficient ground for non-filing of the return in time in the hands of the partners. 2. The assesse....

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....t on the facts pertaining to the delay in the case of the firms. This constitutes reasonable cause in filing the return late. The appellant cannot be accused of not having filed the return in time deliberately or negligently. He appears to have been prevented by reasonable cause from making compliance with the provisions of law. In view of the above, there appears to have been prevented by reasona....

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....a Pradesh High Court in M/s. Amrit Lal Shomabai vs. CIT 1978 CTR (MP) 163 : (1979) 116 ITR 833. On the other hand, Shri. N.C. Bhuraria, the ld. Counsel of the assessee supported the order of the AAC. In view of the Supreme Court decision in 83 ITR 26 in the case of M/s. Hindustan Steels relied upon by the AAC and that of the Mysore High Court in M/s. Venkateshwara Power Rolling Mills vs. CIT (1974....