1979 (4) TMI 90

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....t. The assessee filed a return on 31st March, 1975 relating to the asst. yr. 1974-75 admitting a taxable gift of Rs. 95,000. The assessment was duly completed. As a result of the Tribunal's Order the taxable gift was determined at Rs. 1,35,000. The return should have been filed by 30th June, 1974 and because of the belated filing of the return the GTO initiated penalty proceedings under s. 17(1)(a....

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....The assessee did not act deliberately in defiance of law and that he is not guilty of any conduct dishonest or contumacious or that he assessee acted in conscious disregard of his obligations. This is the first ever gift made by the assessee. He voluntarily filed the return when he came to know of his liability. The decision in 103 ITR 634 supports the assessee's case. The delay can at best be a t....