https://www.taxtmi.com/caselaws?id=283810 A defective return filed without the required profit and loss account and balance-sheet under the mercantile system is not automatically a nullity in law if it otherwise substantially complies with the prescribed form; the statutory scheme contemplates an to complete or rectify omissions, so summary assessment cannot rest solely on the footing that no return was made. By contrast, non-compliance with a notice requiring production of accounts is a distinct statutory default and can independently justify summary assessment even if no notice calling for attendance and evidence was issued. The return was therefore not treated as no return, but the separate accounts-production default remained sufficient to sustain the assessment. en-us Thu, 16 Mar 1950 00:00:00 +0530 Mon, 14 Oct 2019 15:18:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283810 A defective return filed without the required profit and loss account and balance-sheet under the mercantile system is not automatically a nullity in law if it otherwise substantially complies with the prescribed form; the statutory scheme contemplates an to complete or rectify omissions, so summary assessment cannot rest solely on the footing that no return was made. By contrast, non-compliance with a notice requiring production of accounts is a distinct statutory default and can independently justify summary assessment even if no notice calling for attendance and evidence was issued. The return was therefore not treated as no return, but the separate accounts-production default remained sufficient to sustain the assessment. Case-Laws Income Tax Thu, 16 Mar 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283810