https://www.taxtmi.com/caselaws?id=26415 The High Court upheld the imposition of penalties on sums of Rs. 10,000 and Rs. 20,000 for attempting to defraud the Revenue by showing them as gifts to the assessee's minor son. The Court also ruled that penalties should be imposed based on the law in force at the time of filing the return, not at an earlier date. The penalty on the unexplained investment of Rs. 10,393 was deleted, but the penalty on income of Rs. 4,826 from the house in the minor son's name was imposed. en-us Thu, 17 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 18:01:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26415 The High Court upheld the imposition of penalties on sums of Rs. 10,000 and Rs. 20,000 for attempting to defraud the Revenue by showing them as gifts to the assessee's minor son. The Court also ruled that penalties should be imposed based on the law in force at the time of filing the return, not at an earlier date. The penalty on the unexplained investment of Rs. 10,393 was deleted, but the penalty on income of Rs. 4,826 from the house in the minor son's name was imposed. Case-Laws Income Tax Thu, 17 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26415