1982 (5) TMI 110

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..... months. The ITO therefore initiated penalty proceedings u/s 271(1)(a) of the Act. In reply to the show cause notice the assessee contention was that the accounts of the firm M/s Oriental Book Stationery Co of which the assessee was a partner had not been finalised More over the assessee had applied in form No.6 for extention and levied of Rs. 3,210. The same has been confirmed on appeal by the .....

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..... e delay. Reference may be made to a decision of the Punjab Haryana High Court in CIT vs. Prntap Chand Maheshwari (1980) 14 CTR (MP) 410 and a judgement of this Bench of Tribunal in ITO vs. H.R. Verma ITA no. 46/Ind/80 decided on 7-8-1980. Following the views expressed in these two judgements we are the opinion that there was sufficient cause for delay in question. The appeal is allowed and the p .....

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