AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2018 (1) TMI 886
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....income of Rs. 1,27,900/- and agricultural income of Rs. 70,200/- on 16/03/2010 and the same was processed U/s 143(1) of the Act on 24/04/2010. The assessee was also deriving income from liquor business carried on in AOP's status. The gross receipt shown by the assessee in the liquor business were Rs. 1,09,42,255/-. As per provisions of law, the assessee was to keep its account audited but the assessee has failed to do so, therefore, a Show cause was issued to the assessee in this regard and the Assessing Officer levied the penalty @ ½% of the gross turnover U/s 271B of the Act. 3. The ld. CIT(A) had sustained the penalty levied by the Assessing Officer by holding as under: "5.3 I have gone through the penalty order as well as subm....
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....t plus agriculture income, the assessee was also deriving income from liquor business carried on in A.O.P.'s status. For this reason, income from liquor business was not declared in the Ind. return. The ITO however, assessed the income from liquor business for which license was granted by the Distt. Excise Officer, Bundi. The ITO also mentioned that the assessee did not produce the books of accounts and after taking into account the total purchases of liquor at Rs. 10942255/- he computed the income from liquor business at Rs. 13130,000/-. He also initiated proceedings u/s 271B for non compliance of the provisions of sec. 44AB. 2. As stated above, the appellant is one of the members of the A.O.P. named M/s Umrao Singh & Party (Kota-Bu....
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....er u/s 143 (3) dated 14-5-2009 for a. year 2008-09 and order u/s 143(1) dated 23-3- 2010 for the asstt. year 2009-10 after thoroughly examining all the books of accounts which were audited by the chartered Accountant firm of M/s Sampatilal Bohra & Co. Udaipur vide report dated 29-9-2009. Therefore, in the facts and circumstances of the case, the books which were maintained at the Head office at Udaipur could not be produced. Further all the accounts i.e. accounts of all the shops to whom licenses were granted were subjected to audit so as to make a final audit report of the A.O. P. in the name of M/s Umraosingh & Party (Kota Bundi) Udaipur, and hence there was no question of any separate audit report of the shop licensed to the assessee. Th....
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....eady been made the assessment of the same income in the individual hands tantamount to double assessment of the same income which is impermissible under the law. In other cases of members of the same A.O.P. i.e. Vijendra Singh; Raghubeersingh and Ravindersingh (members at S.O. 102,41 and 38 of the agreement dated 1 -2-2007) the successor CIT (A) has struck down the ITO's order on this point with the observation that the ITO's contention does not hold good in view of the fact that asstt. in the case of A.O.P. having already reached finality. He relied on the third member decision in the case of IT Appeal No. 1058 (MDS) of 2010 (A.Y) 2007-08 vide its order dated 23rd January 2013 in the case of R. Natrajan v/s ACIT. There are plethora....
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.... the assessee in respect of his liquor business. The consolidated audit report was prepared after taking into a/c all relevant factors of the assessee as well as of other license holders. The consolidated audit of the group (AOP) members obviously takes into consideration the audit of the assessee's books of account. The consolidated report in the name of AOP M/s Umrao Singh and party of which the assessee Shri Hanumansingh is one of the members at S.O. 14th of the agreement dated 1-2-2007, may kindly be taken as audit report on behalf of the assessee in terms of section 44AB. and the order of the ld. AO and that of the CIT(A) may kindly be held to be unjustified and be quashed and the appeal may very kindly be allowed." 5. On the con....