1990 (1) TMI 153 - AT - Income Tax

Summary

The Department appealed to restore a penalty order under s. 271(1)(a) cancelled by the AAC. The assessee, a partner in four firms, filed the return late due to share income unavailability. The ITO imposed a penalty, but the AAC canceled it citing a reasonable cause. The ITAT agreed with the AAC, dismissing the Department's appeal. (1990 (1) TMI 153 - ITAT NEW DELHI)