1982 (7) TMI 208

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..... nder the It Act as well as under the WT Act for the asst. yr. 1972-73 and 1973-74 on 1st March, 1978 even though they were due on 31st July, 1972 and 31st July, 1973 receptively. The penalty imposed for the delay in the filling of the return was cancelled by the AAC following the decision of the Madras High Court in the case of Addl. CWT vs. Babulal K. Shah Anr. (1978) 114 ITR 370 (Mad). The rev .....

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..... the delay is occasioned by the filing of the IT return because if such delay is condoned it has to be confined in the WT proceeding also, and if such delay is penalised, then again there could not be a further penalty under the WT Act for the same delay. In the circumstance, we cannot find fault with the AAC for following the decision of the Madras high Court and cancelling the penalties imposed. .....

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