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<h1>High Court: Penalty calculation under Wealth-tax Act; deduction of total wealth assessed under sections 16 & 17 upheld.</h1> The High Court of Andhra Pradesh ruled in favor of the assessee, stating that penalty under section 18(1)(a) should be computed after deducting the total ... Penalty, Wealth Tax The High Court of Andhra Pradesh ruled in favor of the assessee, stating that penalty under section 18(1)(a) should be computed after deducting the total wealth assessed under section 16 from the total wealth assessed under section 17 of the Wealth-tax Act. The Tribunal's decision was upheld as it was not contrary to law.