1979 (9) TMI 102

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.... 2. The assessee, an individual, deals in silver, bullion and ornaments. The assessee had been assessed to tax since asst. yr. 1969-70 and income was determined on the basis of estimate under "small income scheme to help new tax payers". For asst. yr. 1975-76 the assessee declared business income at Rs.6,497 and house property income at Rs. 400. On 8th Oct., 1974 there was a raid on the business p....

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.... 10357 disclosed and accepted as voluntary disclosure and the income which finally remained was Rs. 6,318 as against the returned income of Rs. 5,095. There was thus no concealment and on merits no penalty could be levied. 4. The crucial question before us is one of limitation. The penalty order was received by the assessee on 31st Aug., 1978, while the appeal was fixed before the Tribunal on 4....

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....nation of delay on the ground that the mistake was bonafide. An affidavit sworn by the assessee has been filed along with the condonation application. 5. s. 253(5) provides that the Tribunal may admit an appeal after the expiry of the prescribed period if it is satisfied that there was sufficient cause for not presenting it within the period. Learned counsel for the assessee contended that this....

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....istake could be made even by a person conversant with the law about the proper forum before which an appeal against an order of penalty for a sum of more than Rs. 25,000, could be filed. 6. Learned D/R very vehemently argued that the delay could not be condoned because assessee's legal adviser was fully aware of the legal position and this was, according to the learned D/R, clear from the appli....