1991 (12) TMI 79

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..... st. yr. 1981-82 was concerned, it is an admitted fact that advance tax paid by the assessee firm exceeded the assessed tax and the assessment resulted in refund. In Ganesh Dass Shreeram vs. ITO (1987) 66 CTR SC 135 : (1988) 169 ITR 221 (SC) the Supreme Court has held that interest for delay in filing the return could not be levied against a firm if the advance tax paid exceeded the assessed tax an .....

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..... r charging interest for late filing of return in the case of a firm are identical with the provisions for levy of penalty for late filing of return against a firm and as such the principle laid down in the said decision would be applicable to penalty proceedings also as held by the Rajasthan High Court in the case of CIT vs. Builders Engineers Co. (1988) 73 CTR 230 (Raj) : (1989) 175 ITR 317 (Raj) .....

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..... ssee did not exceed the assessed tax. At the earlier stage there was a plea about the sickness of the mother but that plea has not been accepted and rightly so because the date of death of mother was 24th April, 1981. Before me only plea raised by the learned counsel for the assessee was that since there was a delay in filing of return for asst. yr. 1981-82 no penalty for asst. yr. 1982-83 should .....

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