1975 (8) TMI 42

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....te a case and refer the following question for adjudication: " Whether, in the facts and circumstances of the case, the Tribunal was justified in cancelling the impugned penalty imposed under section 271(1)(a) of the Income-tax Act, 1961?" The year of assessment is 1966-67. While the return was due by September 30,1966, it was actually filed on December 14, 1967. A proceeding was initiated f....