Minor had Rs 1.17cr interest income, father faced Rs 12.83L penalty; what ITAT did
Direct Source Verification:
This story is aggregated from The Times of India (timesofindia.indiatimes.com). Full reporting rights and copyright belong to the primary publisher.
The ruling arose from the tax dispute involving a man in New Delhi. He filed his income tax return on November 4, 2022, reporting total income of Rs 8.43 crore. The case was subsequently reopened by the Income Tax Assessing Officer (AO) at Jhandewalan on March 22, 2025.
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Original Source
https://timesofindia.indiatimes.com/business/india-business/minor-child-had-rs-1-17-crore-interest-income-father-faced-rs-12-83-lakh-penalty-itat-delhi-cancels-it-rules-tax-rate-dispute-isnt-under-reporting/articleshow/134076542.cms
