1980 (10) TMI 122

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..... t to the extent of Rs. 975 2. The assessee filed a return declaring an income of Rs. 9,610 for the asst. yr. 1973-74 on 1st Feb., 1975. The assessment was completed on an income of Rs. 18,810 resulting in a tax of Rs. 2.567. Since there was a failure to file the return of income within the time allowed under s. 139(1) penalty notice was issued. The explanation offered by the assessee in reply to .....

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..... sessee voluntarily. Since the amount is below the taxable minimum, we agree with the assessee's contention that the assessee was under the bona fide impression that they need not file the return. The assessee's partners are not well educated person who bona fidely believe that the income is below the taxable minimum and so they delayed the return. It cannot be stated to be a deliberate default. Un .....

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