TMI Blog1987 (7) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... ommission agent in fruits. The assessment year involved is 1976-77. The return was to be filed on 31st of July, 1976 whereas it was actually filed on 28th Feb., 1977. The assessee had sought extension of time in form 6 as their books of accounts were not complete. In the said application, the time was sought up to 30th Nov., 1976. The ITO had rejected the said extension application and in observat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,711. He submitted that difference in trial balance of a concern of this type was natural and the assessee's request for explanation was rejected without reason. The learned DR on the other hand, relied on the order of the two lower authorities. 2. After taking into consideration the rival submissions and looking to the facts, we are unable to sustain the penalty in question. There is no contro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... difference in trial balance could not be ruled out and once the explanation was given by the assessee, it was for the Department to have substantiated the same to be false. Under the circumstances, the penalty is hereby cancelled and in the result, the appeal of the assessee is allowed. Narayanan (Vice-President): The facts on record as detailed in paragraph 2 of my learned brother's orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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