1982 (5) TMI 110

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..... iled on 18-2-1977 and was thus delayed by six months. The ITO therefore initiated penalty proceedings u/s 271(1)(a) of the Act. In reply to the show cause notice the assessee contention was that the accounts of the firm M/s Oriental Book & Stationery Co of which the assessee was a partner had not been finalised More over the assessee had applied in form No.6 for extention and levied of Rs. 3,210. .....

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..... oncerned there was a reasonable cause for the delay. Reference may be made to a decision of the Punjab & Haryana High Court in CIT vs. Prntap Chand Maheshwari (1980) 14 CTR (MP) 410 and a judgement of this Bench of Tribunal in ITO vs. H.R. Verma ITA no. 46/Ind/80 decided on 7-8-1980. Following the views expressed in these two judgements we are the opinion that there was sufficient cause for delay .....

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