Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (12) TMI 556 - AT - Income TaxLevy of penalty u/s 272A(2)(e) - returns of income was filed belatedly after the due date specified u/s. 139(4A) and 139(4C) - reasonable cause as provided u/s. 273B - Delay due to Illness of Managing Trustee of the trust - HELD THAT:- The assessee has explained reasons for delay in filing return of income, as per which, the Managing Trustee Smt. Chitra Ganapathy, was falling ill from the year 2006 and was hospitalized for treatment to various illness. In her absence, no one was in a position to take care day to day affairs of the assessee which resulted in delay in finalization of accounts and filing return of income for all these assessment years. But, the delay in filing of return of income was neither intentional nor to derive any undue benefit. Illness of Managing Trustee of the trust during the relevant period will definitely comes under reasonable cause as provided u/s. 273B of the Act for not filing return of income within due date specified under the Act. We further noted that the assessee neither intentionally filed return of income belatedly, nor derived any benefit by filing belated return. In fact, the assessee was having excess of expenditure over income for all these years and thus, by not filing return of income within due date specified under the Act, there is no loss of revenue to the Government - reasons given by the assessee for not filing return of income within due date specified u/s. 139(4A) of the Act comes under reasonable cause as provided under the Act for not levying penalty u/s. 272A(2)(e) - Decided in favour of assessee.
|