Reasonable cause defense limits imposition of penalties for wealth tax compliance failures when the taxpayer proves reasonable cause. The amendment to section 18A(2) deletes the words 'without reasonable cause' and adds a proviso providing that no penalty shall be imposable under this sub section if the person proves there was reasonable cause for the said failure, thereby creating an explicit reasonable cause defense to penalty imposition.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reasonable cause defense limits imposition of penalties for wealth tax compliance failures when the taxpayer proves reasonable cause.
The amendment to section 18A(2) deletes the words "without reasonable cause" and adds a proviso providing that no penalty shall be imposable under this sub section if the person proves there was reasonable cause for the said failure, thereby creating an explicit reasonable cause defense to penalty imposition.
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