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2006 (6) TMI 72 - GAUHATI HIGH COURTPenalty - delay in filing the return - Commissioner of Income-tax on the facts of the case, considered the explanations filed by the assessee and found that there was sufficient cause for delay in filing the return. Hence, on a consideration of the submissions, we hold that the Tribunal did not adopt the correct legal approach in rejecting the above grounds to hold that there was no reasonable cause for the delay in filing the return and as such the rejection of waiver of penalty and upholding the penalty was not proper - we allow this appeal and set aside the impugned order of the Tribunal upholding the imposition of penalty.
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