1979 (6) TMI 58

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.... IT Act, 1961 for late filing of the return of income for the asst. yr. 1971-72. 2. The return of income for the impugned assessment year was due on 30th June, 1971. The assessee, however, filed the return on 22nd May, 1972. The delay in filing the return was for ten completed months. The ITO, however, levied the penalty under s. 271(1)(a) by taking the default for six months presumably on the ....

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....n was favourably entertained by the ITO. Further, the ITO passed stereotyped penalty order giving no reason for the imposition of the penalty. In such a case, the imposition of penalty is not justified. 4. The learned departmental representative, on the other hand, submitted that the assessee did not show any reasonable cause for late filling of the return of income and hence, the levy of penal....