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<h1>Court upholds Wealth-tax penalty waiver and reduction based on delay length. Commissioner's discretion valid. Petition dismissed.</h1> <h3>N. Ramachandran Versus Commissioner Of Wealth-Tax And Others</h3> N. Ramachandran Versus Commissioner Of Wealth-Tax And Others - [1988] 170 ITR 447, 68 CTR 136, 38 TAXMANN 33 The High Court of Kerala upheld the Commissioner of Wealth-tax's decision to waive penalty for one year and reduce it for two other years based on the length of delay in filing returns. The court found that the Commissioner's discretion was exercised judiciously and refused to interfere with the decision. The petition was dismissed with no costs.