TMI Blog1988 (7) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961, on which rule was issued. The questions are as follows : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that no penalty is leviable under section 271 (1)(a) of the Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that there is reasonable cause for delay in filing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the return and to get the return signed by the director as required by section 160 of the Income-tax Act, 1961. It is clearly mentioned in the explanation dated July 6, 1981, that it was necessary for the assessee-company to send the return of income prepared in India for the signature of the director in the U. K. and that it also took some time for getting the signed return from the U. K. and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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