1978 (3) TMI 124 - AT - Income Tax

Summary

The appeal pertained to the assessment year 1972-73 regarding a penalty of Rs. 2,872 for late filing of return. The Income-tax Officer initiated penalty proceedings due to an unsigned return filed by the assessee, but the Tribunal ruled in favor of the assessee, stating it was a bonafide mistake, and canceled the penalty. The appeal was allowed. (Case: Appellate Tribunal ITAT DELHI-E, Citation: 1978 (3) TMI 124 - ITAT DELHI-E)