1995 (5) TMI 18

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....e, the Income-tax Appellate Tribunal, has referred the following question being a question of law to this court for its opinion, relevant to the assessment year 1971-72: " Whether, on the facts and in the circumstances of the Case, the Tribunal was correct in law in holding that interest on the deposits totalling Rs. 1,30,000 appearing in the names of the assessee's minor children in the books ....

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....the assessment year 1967-68 and in each of the subsequent assessment years the Income-tax Officer went on repeating the same procedure. In the appeals filed against those assessments it was found that the assessee had disclosed these amounts in the voluntary disclosures made to the Commissioner of Income-tax and in view of the decision of this court in the case of Rattan Lal v. ITO [1975] 98 ITR 6....