1980 (5) TMI 6

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..... the circumstances of the case, the Tribunal was, in law, justified in imposing a penalty under s. 271(1)(a) of the I.T. Act, 1961, on the assessee for the late filing of the return as alleged? " The assessee, Bhagirath Prasad, for the assessment year 1960-61 filed his return of income on July 23, 1964, which was, in fact, due to be filed on or before July 30, 1960. The return was obviously late .....

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..... y justified. In Hindustan Steel Ltd. v. State of Orissa [1972] 83 ITR 26, the Supreme Court laid down the law that whether penalty should be imposed for a failure to perform a statutory obligation is a matter of discretion of the authority to be exercised judicially and on a consideration of all the relevant circumstances. Even if a minimum penalty is prescribed, the authority competent to impos .....

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..... y tried to suppress his income from the sale of land. In our opinion the case would be covered by the rule in Hindustan Steel Ltd.'s case [1972] 83 ITR 26 (SC). We are, accordingly, of the opinion that in the facts and circumstances of the case, no penalty was imposable for filing the return belatedly. We answer the question in the negative in favour of the assessee that in the facts and circums .....

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