- (1.) HEARD Shri D.D. Chopra learned Counsel for the appellant and Shri Amit Shukla learned Counsel for the respondents.
(2.) PRESENT appeal has been filed under Section of the Income tax Act against the impugned order dated 26.07.1999 for the assessment year 1990 -91. While admitting the appeal this Court had not framed question of law required under Section of the Income Tax Appeal. A penalty was imposed by the assessing authority in pursuance to power conferred by Section of the Income Tax Act. The appellate authority as well as Tribunal had set aside the order on the ground that appeal has reasonably been explained hence no penalty could be imposed. Section of the Income Tax Act provides that in case it is proved that there was reasonable cause for the delay in filing the audit report, the delay may be condoned and no penalty should be imposed.
(3.) CONTROVERSY seems to be concluded by finding of fact. No substantial question of law is involved. Accordingly, appeal is dismissed.;