1976 (4) TMI 105

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....r of the AAC, B-Range, Madurai, cancelling the levies of penalty imposed under s. 18(1)(a) of the WT Act, for the four assessment years. 2. The assessee was assessed under the WT Act for the asst. yrs. 1969-70 to 1972-73 in the status of HUF. The assessee, as the kartha was a partner in the firm of National Litho Works, Sivakasi and two of its alied concerns. He was also doing a family business....

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....the delays as due to the fact that the assessee was not aware of the particulars of the assets of the partnership firms and he got the balance-sheet of the firm only in March, 1972 and even then he could not get other relevant particulars. For the years 1971-72 and 1972-73, the delay was attributed to the assessee collecting particulars. The WTO rejected the explanation and levied penalties of Rs.....

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.... and he had nothing to gain by filing the returns belatedly. He also pointed out that the assessee had paid the advance tax for the various years and finally obtained refunds of income-tax from the Department. According to him, the delay was due to circumstances beyond the assessee's control. 4. On hearing the rival contention, we see no reason to differ from the findings of the AAC. The assess....

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....ee bonafiedly though that the share in the other concerns will be less and that the assessee need not file the returns, then, he cannot be penalised for the late filing of the returns. The assessee himself, after taking steps had filed the returns voluntarily. According to the assessee, when he came to know that the share in the reserves of the Sivakasi firms would exceed the limit, he had filed t....