| Case ID |
04dcfb72-89c4-42db-bdcf-edfb756932d6 |
| Body |
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| Case Number |
D-2741 of 1961 |
| Decision Date |
Jan 01, 1961 |
| Hearing Date |
Jan 01, 1961 |
| Decision |
The Income-tax Officer's decision was upheld, indicating that the failure of the assessee to comply with the notices was without reasonable cause, thereby justifying the imposition of penalties. The court concluded that the assessee had no valid grounds for non-compliance and confirmed the penalties levied by the Income-tax Officer and reduced by the Appellate Assistant Commissioner and the Tribunal. |
| Summary |
In this critical income tax case, the Andhra High Court evaluated the penalties imposed under the Income-tax Act, 1961 and the Indian Income-tax Act, 1922 for failure to comply with statutory notices. The case involved the assessee, a firm engaged in the business of yarn and groundnut oil, which failed to produce the required accounts despite multiple opportunities. The court examined the grounds for adjournment requested by the assessee due to the illness of their head clerk. Ultimately, the court upheld the penalties, finding that the failure to comply was without reasonable cause. This case highlights the stringent adherence required to tax compliance protocols and the consequences of neglecting such obligations. The court's decision reinforces the principle that statutory compliance is essential in tax matters, and failure to meet such requirements can lead to significant penalties. The ruling serves as a reminder for businesses to maintain diligence in their financial reporting and compliance with tax regulations. |
| Court |
Andhra High Court
|
| Entities Involved |
Not available
|
| Judges |
SATYANARAYANA RAJU,
ANANTANARAYANA AYYAR
|
| Lawyers |
Not available
|
| Petitioners |
Repaka Seetharamaswamy
|
| Respondents |
Commissioner of Income tax
|
| Citations |
1961 SLD 13,
(1961) 42 ITR 829
|
| Other Citations |
CIT v. Gokuldas Harivaliabhdas [1958] 34 ITR 98 (Bom.),
CIT v. Veera Venkataramiah [1943] 11 ITR 308 (Mad.),
Glynoeron (21 TLR 648),
Moore v. Naval Colliery Co. Ltd. [1912] 1 KB 28
|
| Laws Involved |
Income-tax Act, 1961,
Indian Income-tax Act, 1922
|
| Sections |
271(1)(b),
23(4),
22(4),
28(1)(b)
|