1986 (2) TMI 83 - AT - Income Tax

Summary

The case involves a penalty for delay in filing the income tax return. The assessee filed for an extension, but no reply was received. The penalty was imposed for nine months of delay. The Commissioner reduced the penalty period to seven months. The Tribunal ruled that penalty cannot be imposed when a refund is due, citing previous cases. The penalty was cancelled, and the appeal was allowed. (Case: Appellate Tribunal ITAT AHMEDABAD-B, Citation: 1986 (2) TMI 83 - ITAT AHMEDABAD-B)