1980 (9) TMI 121

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....yr. 1974-75. The assessee is a registered firm. The return of income for the asst. yrs. 1973-74, 1974-75 and 1975-76 were filed by the assessee on the same date, i.e., 29th July, 1975. The ITO did not levy any penalty for the asst. yr. 1975-76. However, he levied penalties of Rs. 9,385 and Rs. 2,691 for the asst. yrs. 1973-74 and 1974-75 for the delay in filing the returns. The returns for these t....

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....r. 1973-74. The said order of the Tribunal appears to have been accepted by the Department. As already stated, the return for the assessment year under appeal was also filed on the same date and, therefore, the delay in this year was comparatively less than the delay in filing the return for the asst. yr. 1973-74. In the circumstances, for the reasons given by the Tribunal in its order for the ass....