https://www.taxtmi.com/caselaws?id=179894 Failure to produce accounts and comply with statutory notices was treated as a default without reasonable cause, making penalty under the Income-tax Act and the Excess Profits Tax Act sustainable. The Court noted that an earlier finding on the same material had already held the default to be wilful and without sufficient cause, and that finding could be relied upon. It also held that the distinction between "sufficient cause" and "reasonable cause" made no practical difference on the facts found. The Tribunal's failure to record an express finding on reasonable cause did not change the substantive result, because the evidence supported the penalty. en-us Mon, 11 Jan 1960 00:00:00 +0530 Fri, 11 Mar 2016 15:33:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179894 Failure to produce accounts and comply with statutory notices was treated as a default without reasonable cause, making penalty under the Income-tax Act and the Excess Profits Tax Act sustainable. The Court noted that an earlier finding on the same material had already held the default to be wilful and without sufficient cause, and that finding could be relied upon. It also held that the distinction between "sufficient cause" and "reasonable cause" made no practical difference on the facts found. The Tribunal's failure to record an express finding on reasonable cause did not change the substantive result, because the evidence supported the penalty. Case-Laws Income Tax Mon, 11 Jan 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179894