Penalty for non-payment of tax: levy follows income-tax guidance but requires an opportunity to show sufficient cause. Penalty under the wealth-tax self-assessment provision should follow the same quantum and administrative guidance as the income-tax self-assessment penalty; imposition is not mandatory and, before levying penalty, the assessee must be given an opportunity of being heard to establish sufficient cause for delay.
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.
Penalty for non-payment of tax: levy follows income-tax guidance but requires an opportunity to show sufficient cause.
Penalty under the wealth-tax self-assessment provision should follow the same quantum and administrative guidance as the income-tax self-assessment penalty; imposition is not mandatory and, before levying penalty, the assessee must be given an opportunity of being heard to establish sufficient cause for delay.
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