1977 (9) TMI 40 - AT - Income Tax

Summary

The assessee appealed against a penalty of Rs. 781 imposed for belated submission of return for the asst. yr. 1971-72. The Tribunal canceled the penalty, finding that the delay was due to business distractions and partner's murder, establishing a reasonable cause for the delay. The appeal was allowed. (Case: Appellate Tribunal ITAT AMRITSAR, Citation: 1977 (9) TMI 40 - ITAT AMRITSAR)