9911796707
TMI Blog1980 (10) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... in respect of the various branches and the penalty sustained by the ld. CIT in respect of the various branches: Assessment year 1976-77 . . Annual return due on Return filed on Delay in filing annual return Penalty confirmed @ Rs. 2 per day . . . . . Rs. 1. Kanpur 15-6-1976 24-12-1977 556 days 1,112 2. Pondichery 15-6-1976 24-12-1977 526 days 1,052 3. Naini 15-6-1976 28-11-1977 499 days 998 4. Udaipur 15-6-1976 7-11-1977 519 days 1,038 5. Bombay 15-6-1976 22-12-1977 554 days 1,108 6. Rae Ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause for the delay in the filing of the annual returns. The company was busy in preparing its final accounts for the purpose of audit and hence could not file the returns in time. 3. In this contention, our attention was invited by the ld. counsel for the assessee towards ss. 194A, s. 205, s. 272A, s. 285 and r. 116 of the IT Rules. 4. He also pleaded that inasmuch as the default was merely technical and venial, penalty ought not to be sustained by us in accordance with the principles laid down by Their Lordships of the Supreme Court in the case of Hindustan Steel (1972) 83 ITR 26 (SC). 5. On behalf of the Department, the orders of the ld. CIT were very stoutly supported and it was urged that there was no reasonable cause whatsoev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st of the forms was filed in respect of asst. yr. 1976-77 late by 590 days, whereas such delay in respect of asst. yr. 1977-78 was of 246 days. Therefore, the delay in the filing of the Form No. 50 would be of 598 days only in respect of asst. yr. 1976-77 and of 246 days in respect of asst. yr. 1977-78. There is no warrant either in law or in rules to presume each Form No. 50 filed for each of the branches as a self-contained one and as invoking the provisions of s. 285 of the IT Act, 1961. What invokes the penalty provisions is the act of the assessee to file the Form No. 50 late and such delay has to be computed with reference to the totality of the work and not with reference to the branch-wise work. 7. We are, however, not convinced ..... X X X X Extracts X X X X X X X X Extracts X X X X
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