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Documents citing James Finlay & Co. Ltd. vs Commissioner Of Income-Tax on 6 April, 1982

Jagtar Singh Brar Prop. Jagtar Singh ... vs Income Tax Officer, Ward 3, Moga, Moga on 18 November, 2025

"5. Front perusal of the material on record, it is clear that the mistake, as was sought to be explained by the assessee in non-declaring the receipt of amount from Haryana State Agricultural Marketing Board, was not a bona fide mistake. On consideration of the entire material on record, all the authorities below came to the conclusion that showing of less receipt of amount by the assessee itself proved the concealinent. Even otherwise in the case in hand, the income which was finally assessco; is more than what was declared by the assessee in response to notice under Section 148 of the Act so the mens rea for concealment is clear on the face of The decisions of Hon'ble Calcutta High Court in the case of James Finlay and Co. Ltd. Vs. CIT reported in 144-ITR-423 also applicable in the present case wherein Hon'ble High Court has held that penalty is leviable in case assessee is following Mercantile System of accounting and failed to include accrued interest in his return and also failed to show that there is no change in method of accounting."
Income Tax Appellate Tribunal - Amritsar Cites 25 - Cited by 0 - Full Document
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