9911796707
TMI Blog1976 (3) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... to state a case and refer the following questions for opinion of the court : " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the levy of penalty under section 271(1)(a) of the Act ? and (2) Whether the finding of the Tribunal was vitiated in law ? " The relevant assessment year is 1966-67, the return for which was due to be filed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al before the Tribunal, however, succeeded. According to the Tribunal, the assessee was evidently waiting for the completion of the audit and since audit was completed in 1967, that is, after the due date, the assessee could not submit the return in time. It is not disputed that under the provisions of section 139 of the Act, the assessee had obligation to file the return by October 1, 1966. Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at no return would have been filed if notice under section 148 of the Act was not served. That negatives the bona fides of the assessee to the fullest extent and in view of his conduct and varying stands, we think it appropriate to accept the contention of the learned standing counsel that there was absolutely no material before the Income-tax Appellate Tribunal on the basis of which it deleted th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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