1980 (7) TMI 140 - AT - Income Tax

Summary

The Revenue appealed against the cancellation of a penalty of Rs. 4,803 by the AAC for delay in filing returns. The assessee, a stationery firm, filed for extension of time but received no communication from the ITO. The Tribunal upheld the AAC's decision, stating that the assessee had a reasonable cause for the delay. The appeal was dismissed.