1978 (10) TMI 76 - AT - Income Tax

Summary

The appeal relates to penalty under s. 271(1)(a) of the IT Act for late filing of income tax return. The assessee filed return late due to increase in sales turnover. The Tribunal held penalty not justifiable as there was no deliberate defiance of law. Penalty of Rs. 7,250 cancelled, appeal allowed. (Case: 1978 (10) TMI 76 - ITAT MADRAS-B)