COMMISSIONER OF INCOME TAX Vs. BAIJNATH CHOPOLIA

JUDGEMENT

(1.) BY order dated November 20, 1973, this court directed the Appellate Tribunal to state a case and refer the following question for adjudication:

(2.) THE year of assessment is 1966-67. While the return was due by September 30,1966, it was actually filed on December 14, 1967. A proceeding was initiated for delayed filing of the return under Section 271(1)(a) of the Income-tax Act, 1961. THE assessee took the stand that he had no other income than the share income from a registered firm and as the firm had not been able to work out its profit and loss the return could not be filed earlier. It is stated that the returns of the firm as also of the assessee were filed on the same day. THE Income-tax Officer rejected the explanation and imposed penalty. THE penalty was sustained by the Appellate Assistant Commissioner but was vacated by the Appellate Tribunal. THE Tribunal categorically found :