CIT v. Standard Mercantile Company

160 ITR 613High Court1986#2558 most cited

What is CIT v. Standard Mercantile Company authority for?

A penalty under Section 271(1)(c) for concealment of income or furnishing inaccurate particulars can be imposed if the assessee fails to demonstrate reasonable cause for non-compliance or where an intention to evade tax is proved.

45

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Standard Mercantile Company · 160 ITR 613 · penalty under section 271(1)(c) · concealment of income · furnishing inaccurate particulars · reasonable cause · mens rea · evasion of tax · Section 274 · penalty proceedings

Sections most often in play

Section 143(3)Section 153ASection 271(1)(c)Section 274Section 271AABSection 271AAB(1)(c)

Issues it is cited on

section 271aab(1)section 271aabpenalty proceedings initiatedsection 271aasection 260section 271afurnishing inaccurate particulars of incomepenalty under section 271(1)(c)furnishing inaccurate particularsnon-application of mindpenalty u/s 271(1)(c)section 274

Judgments citing CIT v. Standard Mercantile Company

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

ITA 1942/MUM/2024[2013-14]Status: DisposedITAT Mumbai29 Jan 2026AY 2013-14

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

For Appellant: Shri Madhur Agarwal, AdvFor Respondent: Assessee by
Section 143(1)Section 271Section 271(1)(c)

…आयकर अपीलीय अिधकरण "ाय पीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & SHRI ARUN KHODPIA, AM I.T.A. No.1938/Mum/2024 (Assessment Year: 2008-09) I.T.A. No.1937/Mum/2024 (Assessment Year: 2009-10) I.T.A. No.1940/Mum/2024 (Assessment Year: 2010-11) I.T.A. No.1939/Mum/2024 (Assessment Year: 2011-12) I.T.A. No.1941/Mum/2024 (Assessment Year: 2012-13) I.T.A. No.1942/Mum/2024 (Assessment Year: 2013-14) I.T.A. No.1936/Mum/2024 (Assessment Year: 2014-15) Rajesh B. Jain as Legal Heir of ITO, Ward-19(1)(1), Bhanwarlal Jain, Piramal Chamber, 171, 17…

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M JAIN,MUMBAI vs. INCOME TAX OFFICER, WARD-19(1)(1), MUMBAI

ITA 1940/MUM/2024[2010-11]Status: DisposedITAT Mumbai29 Jan 2026AY 2010-11

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

For Appellant: Shri Madhur Agarwal, AdvFor Respondent: Assessee by
Section 143(1)Section 271Section 271(1)(c)

…आयकर अपीलीय अिधकरण "ाय पीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & SHRI ARUN KHODPIA, AM I.T.A. No.1938/Mum/2024 (Assessment Year: 2008-09) I.T.A. No.1937/Mum/2024 (Assessment Year: 2009-10) I.T.A. No.1940/Mum/2024 (Assessment Year: 2010-11) I.T.A. No.1939/Mum/2024 (Assessment Year: 2011-12) I.T.A. No.1941/Mum/2024 (Assessment Year: 2012-13) I.T.A. No.1942/Mum/2024 (Assessment Year: 2013-14) I.T.A. No.1936/Mum/2024 (Assessment Year: 2014-15) Rajesh B. Jain as Legal Heir of ITO, Ward-19(1)(1), Bhanwarlal Jain, Piramal Chamber, 171, 17…

RAJESH B, JAIN AS LEGAL OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

ITA 1938/MUM/2024[2008-09]Status: DisposedITAT Mumbai29 Jan 2026AY 2008-09

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am Ι.Τ.Α. No.1938/Mum/2024 (Assessment Year: 2008-09) Ι.Τ.Α. No.1937/Mum/2024 (Assessment Year: 2009-10) Ι.Τ.Α. No.1940/Mum/2024 (Assessment Year: 2010-11) Ι.Τ.Α. No.1939/Mum/2024 (Assessment Year: 2011-12) Ι.Τ.Α. No.1941/Mum/2024 (Assessment Year: 2012-13) Ι.Τ.Α. No.1942/Mum/2024 (Assessment Year: 2013-14) Ι.Τ.Α. No.1936/Mum/2024 (Assessment Year: 2014-15) Rajesh B. Jain As Legal Heir Of Bhanwarlal Jain, 171, 17Th Floor, Silver Arch, Petit Hall Compound, Nepeansea Road, Mumbai - 400006 Pan: Aafpj1924R Assessee -अपीलार्थी / Appellant Vs. Ito, Ward-19(1)(1), Piramal Chamber, Lalbaug, Mumbai-400012. Revenue - प्रत्यर्थी / Respondent : Assessee By : Shri Madhur Agarwal, Adv, Shri Fenil Bhat & Shri Sucheck Anchaliya, Ca

For Appellant: Shri Madhur Agarwal, AdvFor Respondent: Assessee by
Section 143(1)Section 271Section 271(1)(c)

…आयकर अपीलीय अधिकरण न्याय पीठ मुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL "B" BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & SHRI ARUN KHODPIA, AM Ι.Τ.Α. No.1938/Mum/2024 (Assessment Year: 2008-09) Ι.Τ.Α. No.1937/Mum/2024 (Assessment Year: 2009-10) Ι.Τ.Α. No.1940/Mum/2024 (Assessment Year: 2010-11) Ι.Τ.Α. No.1939/Mum/2024 (Assessment Year: 2011-12) Ι.Τ.Α. No.1941/Mum/2024 (Assessment Year: 2012-13) Ι.Τ.Α. No.1942/Mum/2024 (Assessment Year: 2013-14) Ι.Τ.Α. No.1936/Mum/2024 (Assessment Year: 2014-15) Rajesh B. Jain as Legal Heir of Bhanwarlal Jain, 171, 17th Floor, Silver Arch, Petit Hall Compound…

RAJESH B. JAIN AS LEGAL HEIR OF BHANWARLAL M. JAIN,MUMBAI vs. WARD 19(1)(1), MUMBAI

ITA 1937/MUM/2024[2009-10]Status: DisposedITAT Mumbai29 Jan 2026AY 2009-10

Bench: Justice (Retd.) C V Bhadang & Shri Arun Khodpia, Am

For Appellant: Shri Madhur Agarwal, AdvFor Respondent: Assessee by
Section 143(1)Section 271Section 271(1)(c)

…आयकर अपीलीय अिधकरण "ाय पीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & SHRI ARUN KHODPIA, AM I.T.A. No.1938/Mum/2024 (Assessment Year: 2008-09) I.T.A. No.1937/Mum/2024 (Assessment Year: 2009-10) I.T.A. No.1940/Mum/2024 (Assessment Year: 2010-11) I.T.A. No.1939/Mum/2024 (Assessment Year: 2011-12) I.T.A. No.1941/Mum/2024 (Assessment Year: 2012-13) I.T.A. No.1942/Mum/2024 (Assessment Year: 2013-14) I.T.A. No.1936/Mum/2024 (Assessment Year: 2014-15) Rajesh B. Jain as Legal Heir of ITO, Ward-19(1)(1), Bhanwarlal Jain, Piramal Chamber, 171, 17…

MRS. BEANT KAUR JUNEJA,NAGPUR vs. INCOME TAX OFFICER, WARD-4(2), NAGPUR

The appeal of the assessee is ALLOWED

ITA 18/NAG/2023[2017-18]Status: DisposedITAT Nagpur25 Apr 2024AY 2017-18

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 018/Nag/2023 निर्धारण वषा / Assessment Year : 2017-18 Beantkaur Avtarsingh Juneja Hp Petrol Pump, Dosar Bhavan, C. A. Road, Nagpur-440002. Pan: Aflpj2956E . . . . . . . अपीलार्थी / Appellant

For Appellant: None for the AssesseeFor Respondent: Mr Abhay Marathe [‘Ld. DR’]
Section 143(1)Section 24Section 246A(1)(a)Section 250Section 253(1)(a)Section 271BSection 273BSection 274(1)Section 44A

…failed in demonstrating reasonable cause in terms of section 273B of the Act. Consequently, the Ld. NFAC approbated the imposition and dismissed the appeal by placing reliance on ‘ITO Vs Gaytri Coal Supply’ 238 AT 16 (Patna), ‘CIT Vs Standard Mercantile Co.’ 160 ITR 613 (Patna) and ‘CIT Vs Mussadilal Ram Bharose’ [1987] 165 ITR 14 [Equi: 30 Taxman 546H]. ITAT-Nagpur Page 2 of 6 Beantkaur Avtarsingh Juneja Vs ITO. 2.4 Still aggrieved by the aforestated imposition of penalty the appellant assessee set-up this appeal on a solitary ground that the appellate authority erred in law and facts & circumstance in confir…

ROYAL HOME COLLECTIONS PRIVATE LIMITED,,MUMBAI vs. ACIT-4(2)(1),, MUMBAI

In the result, the appeal filed by the assessee is allowed

ITA 910/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Apr 2022AY 2014-15

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm आयकरअपीलसं./ I.T.A. No. 910/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2014-15) Acit-4(2)(1), Royal Home Collections R. No. 642, 6Th Floor, Pvt. Ltd. Aayakar Bhavan, बिधम/ Plot No. 33, Abcd Govt. Mumbai-400 020 Industrial Estate, Charkop, Vs. Kandivali, Mumbai-400 067 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaccm4922G (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant None : By प्रत्यथीकीओरसे/Respondent : Shri T. Shankar, Ld. Dr By सुनवाईकीतारीख/ : 09.03.2022 Date Of Hearing घोषणाकीतारीख / : 13.04.2022 Date Of Pronouncement आदेश / O R D E R Per Kavitha Rajagopal: The Present Appeal Filed By The Assessee Is Against The Order Of Ld. Cit(A)-9, Mumbai Dated 30.01.2019 Pertains To Ay 2014-15. The Solitary Ground Of Appeal Is Whether The Ld. Cit(A) Has Erred In Upholding The Penalty Of Rs. 10,000/- Levied U/S 271(1)(B) Of The I.T. Act.

For Respondent: Shri T. Shankar, Ld. DR by
Section 142(1)Section 143(2)Section 143(3)Section 144Section 271(1)(b)

…tended that the assessee company has not stated the reason for its non compliance and that the default committed was not to be ignored. The DR relied on the decision of the lower authorities and relied on the decision of CIT vs. Standard Mercantile Co. (1986) 160 ITR 613 (Pat) decision. 6. Having heard both sides and perused the materials on record, we are of the considered opinion that it is evident from Para 2 of the assessment order that the AO has recorded satisfaction towards the compliance of the assessee company in furnishing the required details during the course of assessment proceedings. It is also evi…

SHRI RAJENDRA P. JAIN ,MUMBAI vs. DYCIT, CENTRAL CIR.-1(3), MUMBAI

In the result, assessee’s appeals are allowed

ITA 190/MUM/2021[2013-14]Status: DisposedITAT Mumbai08 Dec 2021AY 2013-14

Bench: Shri Shamim Yahya (Am) & Shri Laliet Kumar (Jm) I.T.A. Nos. 190 To 192/Mum/2021 (Assessment Years : 2012-13,2013-14 & 2014-15) Rajendra P.Jain Dcit,Cc-1(3) Vs. A-1605, Samarpan 905, 9Th Floor Exotica, Off.Dattapada Old Cgo Building Road, Behind Metro Mall, Prathishta Bhawan Borivali(E) M.K.Road, Mumbai-400 066 Mumbai-400 020 Pan : Abhpj0579P (Appellant) (Respondent)

Section 132(1)Section 143(3)Section 153Section 153ASection 271Section 271(1)Section 271(1)(C)Section 271(1)(c)

…his penalty 3 Rajendra P.Jain order. Ld.CIT(A) proceeded to confirm the penalty to the above extent by referring to Hon’ble Supreme Court decision in Mak Data Pvt.Ltd. vs CIT [2013] 358 ITR 593(SC) and Patna High Court decision in CIT vs Standard Mercantile 160 ITR 613 and CIT vs. Zoom Communications Pvt. Ltd.(ITA No. 07/2010 dated 24.05.2010). Ld.CIT(A) has concluded as under:- “Moreover it was observed that the incomes undisclosed are not meagre amount. It show that the assesse intention of evading tax by not disclosing the correct income in the return of income filed with the Department. Thus, it is held th…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 255/IND/2018[16-17]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 254/IND/2018[15-16]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 253/IND/2018[14-15]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 252/IND/2018[13-14]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 251/IND/2018[12-13]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 250/IND/2018[2011-2012]Status: DisposedITAT Indore21 Aug 2020AY 2011-2012

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MEENA DEVI RAI JHANSI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 249/IND/2018[10-11]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 248/IND/2018[16-17]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 247/IND/2018[2015-2016]Status: DisposedITAT Indore21 Aug 2020AY 2015-2016

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 246/IND/2018[14-15]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 245/IND/2018[13-14]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 244/IND/2018[12-13]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

MANISH RAI,JHANSI vs. DCIT CENTRAL CIRCLE, BHOPAL

In the result all the appeals of the three assessee(s) namely

ITA 243/IND/2018[11-12]Status: DisposedITAT Indore21 Aug 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 142Section 142(1)Section 143(3)Section 144Section 153ASection 271Section 271(1)(b)

…t of the assessee on account of noncompliance of notices. The details were available with the Ld. AO for completing the assessment proceedings. D. Ld. CIT(A) has relied on the decision of Hon’ble Patna High Court in the case of Standard Mercantile Co (1986) 160 ITR 613. This decision is distinguishable on the facts of the instant case. In the above mentioned decision, assessee failed to comply with the notice issued u/s 142(1) and also failed to produce books of accounts. However, in the instant case, assessee has complied with the notices issued u/s 142(1) on subsequent dates as noted by the Ld. A.O in the ass…

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CIT v. Standard Mercantile Company (160 ITR 613) — Cited in 45 Judgments | BharatTax