M. M. Cherian, A.M. - (1.) IN view of the common grounds involved in these 5 appeals filed by the same assessee, they are consolidated in the common order for the sake of convenience. These appeals have been filed by the assessee Shri R. B. Singh of M/s. Machinery Sales and Services, Bombay against the common order passed by the CIT(A) confirming the levy of penalty under section 271(1)(c) of the INcome-tax Act for the assessment years 1975-76, 1976-77, 1977-78, 1978-79 and 1980-81.
(2.) The assessee is carrying on business in the purchase and sale of textile machinery parts under the name M/s. Machinery Sales and Services. The assessee filed returns of income for the Assessment Years 1975-76 to 1980-81 declaring the total income as shown below : JUDGEMENT_11440_TLIT0_19990.htm The assessments were completed under section 144 of the Income-tax Act on total income as under : JUDGEMENT_11440_TLIT0_19991.htm
(3.) THE Assessment orders were made on 27-3-1986 for all the 5 years under consideration. THE assessee later filed returns of income on 17-3-1987 showing the total income as under : JUDGEMENT_11440_TLIT0_19992.htm ;