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2020 (12) TMI 519 - AT - Income TaxPenalty u/s. 271F - assessee failed to file his return of income within the time prescribed u/s. 139(1) - assessee made certain written submissions before the ld. CIT(A) seeking deletion of penalty, which did not find favour with the ld. first appellate authority, who affirmed the penalty - HELD THAT:- The reasons referred to the assessee being an agriculturist and illiterate; facing financial and family problems; under the impression that gain arising from sale of any agricultural land not chargeable to tax. When we consider the entirety of the facts and circumstances obtaining in this case, it becomes apparent that there was reasonable cause on the part of the assessee in not filing return u/s. 139(1) against which the penalty has been imposed and confirmed u/s. 271F - Section 273B provides that no penalty shall be imposed, inter alia, u/s. 271F where the assessee establishes a reasonable cause for failure referred to in said section. There was a reasonable cause with the assessee in the terms given in para 5 of the impugned order. This being the position, the case gets covered u/s. 273B of the Act. As such, we order to delete the penalty. - Decided in favour of assessee.
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