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TMI Blog1979 (4) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... 75 admitting a taxable gift of Rs. 95,000. The assessment was duly completed. As a result of the Tribunal's Order the taxable gift was determined at Rs. 1,35,000. The return should have been filed by 30th June, 1974 and because of the belated filing of the return the GTO initiated penalty proceedings under s. 17(1)(a). There was no reply to the penalty notice. The GTO held that the assessee had no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f any conduct dishonest or contumacious or that he assessee acted in conscious disregard of his obligations. This is the first ever gift made by the assessee. He voluntarily filed the return when he came to know of his liability. The decision in 103 ITR 634 supports the assessee's case. The delay can at best be a technical breach as the assessee had filed a copy of the trust deed at the time of ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 17(1)(a). It is no doubt true that the assessee has not offered an explanation before the GTO, but he did offer the explanation before the AAC. His case was that since he has filed a copy of the trust deed along with the application under s. 230A he would be issued with a notice by the Department. It is only when he was advised by the Chartered Accountant that he hastened to file the return vol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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