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TMI Blog1984 (1) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... vious year ended on31st March, 1975. Return was filed on6th Aug., 1975declaring total income of Rs. 4090. The assessment was completed on a total income of Rs. 9640 which was subsequently reduced to Rs. 8640 on appeal. The deposits made by the assessee into the Bank amounting to Rs. 3500 were treated as income from undisclosed sources. The said addition was upheld by the AAC. Penalty proceedings w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that there is no contumacious conduct on the part of the assessee. He also urged that the ITO had not scored out the charge in the penalty notice as to whether the assessee is alleged to have concealed the particulars of income or alleged to have furnished inaccurate particulars of such income. The Department al Representative urged that since the additions have been upheld on appeal penalty is le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The circulars issued by the CBDT are binding on the ITO. Regarding the circulars issued by the CBDT the Supreme Court in the cases of Navnitlal C. Javeri vs. AAC of IT, Sen (1965) 56 ITR 198 (SC) and Ellerman Limes Ltd. vs. CIT adopted the validity and binding nature of beneficent circulars and recognised the tax payer s right to enforce them in his favour even in the Court. The ITO should not ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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