1977 (10) TMI 51

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... see for both the years was that the accounts for the earlier year were not completed and till that was completed they could not take up the accounts for the subsequent year. In support of this explanation, it is pointed out that the return for the asst. yr. 1972-73 was filed only on 2nd April, 1974 and it is only after that date the assessee could take up the accounts for the accounting year relev .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... opinion that the penalty could be levied for the asst. yr. 1973-74 for a period of eight months. 3. On the same token the penalty for the asst. yr. 1974-75 will stand cancelled, there being hardly any delay in filing of the return after the date of filing of the return for 1973-74. 4. In the result, the appeal for 1973-74 is partly allowed and 1974-75 fully allowed.
Case laws, Decisions, J .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X