TMI Blog1980 (5) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... led belatedly the WTO initiated penalty proceedings and the assessee explained by a letter dt. 16th Feb., 1976 that the delay in filing the returns were not due to any wanton neglect or ulterior motives and it was occasioned by the fact that his experienced estate accountant left the assessee's services. The WTO did not consider these explanations as satisfactory. He held that the assessee should have taken care of his tax matters and he was having the services of a chartered accountant. For the year 1974-75 the assessee also pleaded that extension letters have been filed. But the WTO took the view that since the applications were filed beyond time they are not valid. He levied the penalties in question. 3. The assessee was unsuccessful ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... situation an assessee who is a partner in that firm has a reasonable cause till the balance sheet of the firm is drawn up. In this connection reference was made to the decision in the case of Vankateswara Power Rolling Mills and another (1). 5. The departmental representative, on the other hand, submitted that new facts have been placed on behalf of the assessee. The returns at any rate cannot be said to be voluntary s. 14(2) notices had been issued for 1972-73. The balance sheet itself was not before the WTO or the AAC. It is true that the accountant may have died but that would be a relevant factor in the year in which he died. In any case no evidence was produced before the authorities below in support of the contention. 6. In rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return was filed on 20th July, 1973. It cannot be said that there has been an inordinate delay between the drawing up of the balance sheet of the firm and the filing of the individual wealth-tax return. Similarly for the year ending 31st March, 1973 the balance sheet on record shows that it was drawn up on 20th Dec., 1973. The return was filed on 9th Jan., 1974. For the year ending 31st March, 1974 the balance sheet on record shows that it was drawn on 30th Nov., 1974 and the return was filed on 20th Dec., 1974. For these two years also it cannot be said that there has been inordinate delays. It is true that the assessee did not highlight these itself before the officers below but where a material is on record it is open to the assessee to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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