Minor assessee penalty under Wealth-tax Act was not sustainable where guardian filed the delayed return.

Section 18(1)(a) of the Wealth-tax Act fastens penalty only when a person, reasonable cause, fails to furnish a return required under sections 14(1), 14(2) or 17. The discussion notes that a minor was under no enforceable statutory duty to sign or verify a wealth-tax return, and section 15A did not specify how a return on behalf of a minor was to be signed or filed. On that reasoning, a belated return filed by the guardian could not be treated as a default attributable to the minor assessee, and the penalty was treated as not exigible.

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Issues: Whether penalty under section 18(1)(a) of the Wealth-tax Act, 1957 could be levied on a minor assessee where the return of net wealth was filed belatedly by the guardian.

Analysis: Section 18(1)(a) fastens penalty only when a person, without reasonable cause, fails to furnish a return required under section 14(1), section 14(2), or section 17. The statutory scheme did not cast any enforceable obligation on a minor to sign or verify such a return, and section 15A did not address how a return on behalf of a minor was to be signed or by whom it was to be filed. In the absence of a statutory duty on the minor or the guardian, the delayed filing by the guardian could not be treated as a default attributable to the minor assessee.

Conclusion: Penalty under section 18(1)(a) was not exigible against the minor assessee and was deleted.

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