1979 (1) TMI 136

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.... 2. The assessee is a firm which filed the return of income for the asst. yr. 1971-72 on 24th July, 1972 and for the asst. yr. 1972-73 on 3rd Sept., 1974 though the returns were due on or before 30th Sept., 1971 and 31st July, 1972 respectively. In compliance to the show-cause notice the assessee filed a written explanation dt. 27th Feb., 1976 stating that the Accountant engaged by the assessee ....

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.... the case the penalties imposed were not called for. On the other hand, the Revenue relied on the orders of the authorities below and contended that the explanation of the assessee was not proved by any evidence and, therefore, it was rightly rejected. 4. On a careful consideration of the rival submissions, we are of the opinion that the assessee is entitled to succeed. No doubt the returns wer....