2001 (12) TMI 29

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..... 1(1)(a) of the Income-tax Act, 1961, for the belated filing of income-tax return. The penalty levied was sustained in the first appeal. However, the assessee filed a second appeal before the Tribunal. The Tribunal reversed the order in the first appeal on the ground that the assessee had taken the stand that the delay that occurred in filing the return was on account of the delay in auditing the a .....

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..... ee to prove that he was prevented by sufficient cause in not filing the return in time and that he has not discharged the same. It is further contended that there is inordinate delay in filing the return and that the Tribunal has not considered relevant facts or decided the case properly. Counsel for the assessee contended that the assessee had furnished the reasons for delayed furnishing of a .....

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..... diting the accounts of the firm itself will not justify the assessee in not filing the return in time because the assessee being the managing partner took no interest to get the accounts audited in time. In other words, if the delay in auditing the accounts of the firm is attributable to the assessee, then the assessee has no defence. Since the finding of the Tribunal on facts is necessary for .....

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