1981 (10) TMI 61

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....he asst. yr. 1971-72 and confirmed in appeal by the AAC. 2. Briefly stated the material facts are that the assessee was, during the accounting year, a partner in the firm of M/s. Trilokchand Doongarmal. The said firm filed its return of income on 24th Jan.,1974and thereafter the present assessee filed his individual return on 29th Jan.,1974 (as against the due date of 2nd Aug.,1971). In respons....

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.... his return within 5 days of the filing of the firm's return. The AAC nevertheless upheld the penalty with the observation that the assessee had failed to file an application for extension of time in the prescribed Form No.6. It is against this decision that the present appeal is directed. 3. Shri Balchand Agarwal, the ld. counsel for the assessee, submitted that each year being an independent ....