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TMI Blog1988 (11) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... e three assessment years 1973-74, 1974-75 and 1975-76. The assessee Shri S. S. Gulati, and his wife, Smt. Krishna Gulati, had 1/3rd share each in the firm, Belmont Rubber Industries, Faridabad. Both the assessee and his wife filed separate returns of income mentioning therein the amounts received by them from the said firm and they were assessed accordingly. Later, in the course of income-tax pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eventually held that the assessee had concealed his wife's income and he consequently levied penalties upon the assessee for the three assessment years in question in terms of section 271 (1) (c) of the Act. This order was later upheld in appeal by the Appellate Assistant Commissioner. The Tribunal, however, took a contrary view and held that as the assessee and his wife did not have any income ot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to the income of which spouse was to be included in the income of the other assessee ?" In dealing with this matter, the important point to bear in mind is that the assessee and his wife had no income other than their share income from the firm, Belmont Rubber Industries. The relevant provisions of law governing the matter are contained in section 64(1)(i) read with Explanation I thereof. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it cannot be determined in whose income the income of the other spouse is to be included. In such a situation, no occasion was thus provided for imputing to the assessee any charge of concealment of income and there was, therefore, no warrant for the imposition of any penalty upon him. The reference has thus to be answered in the affirmative, in favour of the assessee and against the Revenue. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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