1997 (3) TMI 53 - HC - Income Tax

Summary

The High Court of Madras considered a case regarding the cancellation of a penalty under section 271(1)(a) for the assessment year 1970-71. The Tribunal had cancelled the penalty based on the assessee's reasonable cause for delay in filing the return, which was attributed to the shock of the assessee's wife's death. The High Court upheld the Tribunal's decision, stating that the finding of reasonable cause for the delay in filing the return was a factual determination that could not be overturned.