Minor had Rs 1.17 crore interest income, father faced Rs 12.83 lakh penalty; what ITAT did

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.