No Section 271F Penalty if Reasonable Cause exists for Non Filing of ITR

Arjun Dada Kharate Vs DCIT (ITAT Pune) The issue under consideration is whether the Penalty u/s 271F will be levied for non filing of Income Tax Return (ITR) even in case of reasonable cause? ITAT states that, the assessee stated reasons before the ld. CIT(A) for not furnishing the return u/s.139(1) of the Act. Such reasons have been reproduced in para 5 of the impugned order. The reasons referred to the assessee being an agriculturist and illiterate; facing financial and family problems; under the impression that gain arising from sale of any agricultural land not chargeable to tax. When we c...