1982 (7) TMI 208

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.... The assessee has field the returns due both under the It Act as well as under the WT Act for the asst. yr. 1972-73 and 1973-74 on 1st March, 1978 even though they were due on 31st July, 1972 and 31st July, 1973 receptively. The penalty imposed for the delay in the filling of the return was cancelled by the AAC following the decision of the Madras High Court in the case of Addl. CWT vs. Babulal K.....