CIT v. Standard Mercantile Company

160 ITR 613High Court1986#2555 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 366,339 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

Manish Rai, Jhansi vs. DCIT Central Circle, Bhopal

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

ITA 242/IND/2018[2010-11]Status: DisposedITAT Indore21 Aug 2020AY 2010-11

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…

Mannu Rai, Jhansi vs. DCIT Central Circle, Bhopal

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

ITA 235/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…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6835/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jan 2020AY 2014-15

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6834/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Jan 2020AY 2013-14

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6833/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Jan 2020AY 2012-13

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6832/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Jan 2020AY 2011-12

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6831/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Jan 2020AY 2010-11

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6830/DEL/2017[2009-10]Status: DisposedITAT Delhi23 Jan 2020AY 2009-10

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Cabinet Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6829/DEL/2017[2008-09]Status: DisposedITAT Delhi23 Jan 2020AY 2008-09

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6828/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jan 2020AY 2014-15

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6827/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Jan 2020AY 2013-14

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6826/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Jan 2020AY 2012-13

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6825/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Jan 2020AY 2011-12

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6824/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Jan 2020AY 2010-11

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6823/DEL/2017[2009-10]Status: DisposedITAT Delhi23 Jan 2020AY 2009-10

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Design 39 Inc., New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6822/DEL/2017[2008-09]Status: DisposedITAT Delhi23 Jan 2020AY 2008-09

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6821/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jan 2020AY 2014-15

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6820/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Jan 2020AY 2013-14

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6819/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Jan 2020AY 2012-13

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…

Moin Akhtar Qureshi As Representative Assessee/Agent of M/S. Jean Louis Deniot, New Delhi vs. ACIT, Central Circle- 19, New Delhi

In the result ITA Nos 6815 to 6821/del/2017 are dismissed and ITA

ITA 6818/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Jan 2020AY 2011-12

Bench: Shri R.K. Panda & Shri K.Narasimha Chary

For Appellant: Shri Hiren Mehta, C.A. &For Respondent: Ms. Pramila M. Biswas, CIT/DR
Section 142(1)Section 144Section 153ASection 163Section 271(1)(b)

…th the compliance of statutory notices issued in the assessment proceedings; and that no other reasonable cause was given by the assessee. He, therefore, relying upon the decision of Hon’ble Patna High Court in the case of CIT vs. Standard Mercantile Company, 160 ITR 613, sustained the penalty saddled against the assessee. 5. Before us, the ld. AR of the assessee submitted that sincein some of the disputed years, the assessments have resulted into no additions, as such assessment orders have been passed at Nil income, no penalty can be initiated against the assessee; that in remaining years, reply dated 19.09.20…