https://www.taxtmi.com/highlights?id=25506 Penalty u/s 271(1)(c) - transfer of title - diversion of income by overriding title - Once assessee has complied with the terms of the Will and the family arrangement then, it cannot be held that at the time of filing of the return the assessee lacked genuine and bona fide belief or acted mala fidely to divert the income for evading the taxes. - AT en-us Fri, 23 Oct 2015 22:00:34 +0530 Fri, 23 Oct 2015 22:00:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=25506 Penalty u/s 271(1)(c) - transfer of title - diversion of income by overriding title - Once assessee has complied with the terms of the Will and the family arrangement then, it cannot be held that at the time of filing of the return the assessee lacked genuine and bona fide belief or acted mala fidely to divert the income for evading the taxes. - AT Highlights Income Tax Fri, 23 Oct 2015 22:00:34 +0530 https://www.taxtmi.com/highlights?id=25506