1984 (7) TMI 181

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....nalty of Rs. 5,689 levied by the ITO on him under s. 271(1)(a) of the IT Act, 1961. 2. The IT return of the assessee for the asst. yr. 1974-75 was due on 30th July, 1974. The sums was, however, filed on 17th Nov. 1975. For later submission of return of his income, penalty proceedings were initiated against the assessee. In response to the show-cause notice, the assessee submitted that he had ha....

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....eas of the assessee did not find favour with the AAC who confirmed the penalty order. Aggrieved by the order of the AAC, the assessee has filed the present appeal. 4. After going through the record and hearing the ld. representatives of the parties, we do not find any substance in this appeal. 5. The plea of the assessee that the delay in filing the return was attributable to the negligence ....

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....bona fide belief that his income was below the taxable limit, that he was not legally bound to file the return of his income and, as such, no penalty could be levied on him for the delay in filing the return. In support of his case, he relies upon CIT, Bombay vs. Allied Silk Mills (1982) 26 CTR (Bom) 132 : (1983) 140 ITR 428 (Bom). This contention of the assessee is also not acceptable. IN the fir....