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2002 (11) TMI 43 - MADRAS HIGH COURT"Whether, Tribunal is justified in cancelling the penalty under section 271(1)(a) of the Income-tax Act on the assessee?" - the assessee had no other independent income apart from the share income from the firm. Therefore, we hold that since he had no income other than the share income from the firm, the levy of penalty on the assessee is not justified as without relevant particulars of the share income from the firm, the assessee would not have been in a position to file the return. Further, there is no finding that the assessee was responsible for the delayed finalisation of the accounts of the firm nor is there a finding that he was responsible for the delay in filing the return of the firm. - We answer the question as reframed by us in the affirmative, in favour of the assessee and against the Revenue.
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