1981 (2) TMI 137 - AT - Income Tax

Summary

The appeals filed by Shri G. Dwarakanath of Madras against penalties under s. 271(1)(a) of the IT Act, 1961 for asst. yrs. 1973-74, 1974-75, and 1975-76 were considered by ITAT MADRAS-B. The penalties were reduced for the years 1974-75 and 1975-76, while the penalty for 1973-74 was canceled. The delay in filing returns was partially attributed to the assessee's ill-health and lack of cooperation from others. The appeal for asst. yr. 1973-74 was allowed, and the appeals for asst. yrs. 1974-75 and 1975-76 were partly allowed.