JUDGMENT

YOGESHWAR DAYAL, J.

(1) THESE are two appeals in view of the special leave granted by this court by order dated 4/08/1977 against the judgment and order dated 5/12/1975 of the orissa High court in C.J.C. Nos. 176 and 177 of 1974 rendered in its advisory jurisdiction on a consolidated case stated by the Income Tax Appellate tribunal, Cuttack bench on a question of law arising out of the tribunals consolidated appellate order dated 19/12/1973 in I.T.A. Nos. 153 and 154 (Cuttack) of 1973-74.

(2) THE facts giving rise to these appeals, briefly stated, are as follows: The respondent (hereinafter referred to as the assessee) is an individual and the proceedings relate to the imposition of penalty under Section 271(l)(c) read with Section 274(2 of the Income Tax Act, 1961 (hereinafter referred to as the Act) for the assessment years 1968-69 and 1969-70 for those two years the assessee had disclosed in his return only his own share of the profits of a firm of which he was a partner but failed to disclose the income falling to the share of the minor children from house property which ostensibly stood in the name of his wife but really belonged to the ass