https://www.taxtmi.com/caselaws?id=57543 The Appellate Tribunal ITAT Bangalore upheld penalties under section 271(1)(c) for the assessment years 1977-78 and 1978-79. The case involved including share income of minor sons in the assessee's total income per section 64 of the Income Tax Act. The Tribunal found the assessee liable for not including the share income, reversing the CIT(Appeals) decision. Emphasizing legal obligations and citing precedent, the Tribunal concluded that penalties were justified for concealing income. Revenue appeals were allowed, and penalties upheld for the relevant assessment years. en-us Tue, 24 Jun 1997 00:00:00 +0530 Fri, 10 Dec 2010 16:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57543 The Appellate Tribunal ITAT Bangalore upheld penalties under section 271(1)(c) for the assessment years 1977-78 and 1978-79. The case involved including share income of minor sons in the assessee's total income per section 64 of the Income Tax Act. The Tribunal found the assessee liable for not including the share income, reversing the CIT(Appeals) decision. Emphasizing legal obligations and citing precedent, the Tribunal concluded that penalties were justified for concealing income. Revenue appeals were allowed, and penalties upheld for the relevant assessment years. Case-Laws Income Tax Tue, 24 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57543