The assessee challenged the imposition of penalty by preferring an appeal to the Appellate Assistant Commissioner who refused to interfere and dismissed the appeal.
4,060 for failure to furnish the return within the time on a finding that the assessee had number been prevented by any reasonable cause for number companyplying with the statutory obligation to make the return.
50 of 1968 K. Dholakia, R.C. Bhatia and P.C. Kapoor for the Appellant.
From the Judgment and Order dated 21.12.1972 of the Delhi High Court in Income Tax Reference No.
Applying the provisions of the 1922 Act, the Tribunal reduced the penalty to Rs.400.
1943 of 1974.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
The return was due by September 28, 1961, but the same was neither filed within that time, number was any extension asked for.
The assessee filed the return on May 3, 1962 beyond more than seven months of the due date.
With effect from April 1, 1962, the Income Tax Act of 1961 1961 Act for short had companye into force.
The Income Tax Officer took proceedings under section 271 1 a of the 1961 Act and imposed a penalty of Rs.
C. Manchanda, M.N. Tandon and Miss A. Subhashini for the Respondent.
The Judgment of the Court was delivered by SABYASACHI MUKHARJI, J. The assessee is in appeal by special leave challenging the decision of the Delhi High Court reported in 92 I.T.R. 394.
The year of assessment is 1961 62.
On further appeal the Appellate Tribunal held that penalty was leviable under the 1961 Act but the amount of penalty had to be quantified according to the provisions of section 28 of the Income Tax Act, 1922 1922 Act for short .
