1981 (7) TMI 49

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....red to this court under s. 256(1) of the I.T. Act, 1961 Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the penalty imposed under s. 271(1)(a) of the I.T. Act, 1961 ? " Whether, in a particular case, there was sufficient cause for the failure to file a return and as such penalty should be directed or not is primarily a question fact. On thi....

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.... on behalf of the assessee that since he could not adjust and complete the books of account of his own business in time, he had a reasonable cause for not filing his return of income on or before the due date. In this connection, it is pertinent to note that the assessee's accounting year ended on June 30, 1970, and he filed his return of income after 5 1/2 years. It is an admitted fact that the a....