1976 (10) TMI 10

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....NNAPPA REDDY, ACTG. C.J.--The assessee submitted his return of income for the assessment year 1959-60 on April 7, 1961, though it was due to be submitted on September 30, 1959. The Income-tax Officer imposed a penalty of Rs. 18,702 under section 271(1)(a) of the Income-tax Act. The Appellate Assistant Commissioner and the Tribunal confirmed the levy of penalty. The question referred to us is, whet....