TaxTMI 
TaxTMI 
2003 (1) TMI 25
X X X X Extracts X X X X
X X X X Extracts X X X X
....me Court decision in the case of CIT v. P. Kochammu Amma [1980] 125 ITR 624, was not applicable? 2. Whether, on the facts and circumstances of the case, the Tribunal was justified in holding and had materials to hold that the assessee was under a bona fide belief that he was not liable to include the share income of his wife from the firm in which he was a partner, even though the assessee had failed to give the information as required by column 13 of the return of income and annexure E of the return of income?" Before adverting to the question that arises for consideration, it may be necessary to briefly notice the relevant facts. As is evident from the statement of the case of the reference, one Smt. G. Hemalatha, the wife of the asses....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r section 64(1) of the Act amounts to concealment. Thus the penalty was levied. The Income-tax Appellate Tribunal vide its order dated September 25, 1990, in I.T.A. Nos. 1359 and 1360/Hyd of 1987 took the view that there is no concealment as such on the part of the assessee since there is no direct attempt to hide any item of income or portion thereof from the knowledge of the income-tax authorities. In the result, the Appellate Tribunal came to the conclusion that there is no deliberate act on the part of the assessee. The Appellate Tribunal referred to the meaning of concealment in various dictionaries in the process of arriving at its conclusion. The Appellate Tribunal also took the view that the return filed by the assessee cannot be t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... meaning of section 34(1)(a) of the Indian Income-tax Act, 1922." The Supreme Court further observed: "We do not think, for reasons already discussed, that this decision lays down the correct law on the subject, and had it not been for the fact that since July I, 1972, the form of the return prescribed by rule 12 has been amended and since then, there is a separate column providing that 'income arising to spouse/minor child or any other person as referred to in Chapter V of the Act' should be shown separately under that column and consequently there is no longer any scope for arguing that the assessee is not bound to disclose such income in the return to be furnished by him..." Having said so, the Supreme Court observed that the question h....