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D.S.MEENAKSHI SUNDARAM
Smt. Shanti Devi Gupta – Appellant
Versus
Assistant Commissioner of Income-tax – Respondent
1. These two appeals are filed by the same appellant and are inter-connected. Hence they are disposed of by a common order for the sake of convenience.
2. These appeals are directed against the penalties levied against the appellant for alleged concealment of income under section 271(1)(c) of the Income-tax Act, 1961 and for filing an untrue estimate of advance tax under section 273(a) of the Act.
3. First I shall consider the appeal against the penalty levied under section 271 (1)(c) of the Act in ITA No. 4865(Del)11990. Ibis penalty was levied by the Assistant Commissioner of Income-tax for alleged concealment of income by the assessee to the extent of Rs. 63,000 from her return of income for the assessment year 1974- 75. According to the Assistant Commissioner, the assessee had concealed income to the extent of Rs. 32,225 on sales of Rs. 97,652 in the business carried’on by her as sole proprietrix under the name and style of M/s. Neeta Prakashan and that, further, she had concealed a net profit of Rs. 30,308 on sales of Rs. 92,146 in the business carried on by her in the name of her minor daughter under the name and style of M/s. Sunita Prakashan and that she had also furnish
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