https://www.taxtmi.com/caselaws?id=28290 The court upheld the imposition of a penalty of Rs. 25,000 under section 271(1)(c) for the assessment year 1970-71, justifying that the minors were benamidars of the assessee. The court dismissed the jurisdictional argument raised by the assessee, stating it was not raised before the Tribunal. Additionally, the court found that the procedural aspect of the penalty imposition was not raised before the Tribunal and could not be entertained. The decision favored the Revenue, with each party bearing their own costs. en-us Mon, 02 Aug 1982 00:00:00 +0530 Sat, 20 Feb 2010 12:05:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28290 The court upheld the imposition of a penalty of Rs. 25,000 under section 271(1)(c) for the assessment year 1970-71, justifying that the minors were benamidars of the assessee. The court dismissed the jurisdictional argument raised by the assessee, stating it was not raised before the Tribunal. Additionally, the court found that the procedural aspect of the penalty imposition was not raised before the Tribunal and could not be entertained. The decision favored the Revenue, with each party bearing their own costs. Case-Laws Income Tax Mon, 02 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28290