https://www.taxtmi.com/caselaws?id=24057 The High Court ruled in favor of the assessee, holding that penalties imposed under section 271(1)(c) for not disclosing his wife's income from the firm in his tax return were unjustified. The Court agreed with the Tribunal's decision that in a situation where the spouses had no other income besides their share from the firm, it was unclear under section 64(1)(i) whose income the spouse's income should be attributed to, thus negating any concealment of income by the assessee. The Court awarded costs to the assessee, concluding that no penalty for concealment of income was warranted in this case. en-us Thu, 24 Nov 1988 00:00:00 +0530 Sat, 16 Jan 2010 13:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24057 The High Court ruled in favor of the assessee, holding that penalties imposed under section 271(1)(c) for not disclosing his wife's income from the firm in his tax return were unjustified. The Court agreed with the Tribunal's decision that in a situation where the spouses had no other income besides their share from the firm, it was unclear under section 64(1)(i) whose income the spouse's income should be attributed to, thus negating any concealment of income by the assessee. The Court awarded costs to the assessee, concluding that no penalty for concealment of income was warranted in this case. Case-Laws Income Tax Thu, 24 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24057