https://www.taxtmi.com/caselaws?id=65692 The Appellate Tribunal upheld the cancellation of a penalty under section 18(1)(a) for the assessment year 1964-65, imposed by the Wealth Tax Officer (WTO). The Tribunal found that the WTO's failure to specify the default section for the penalty and lack of opportunity for the assessee to respond violated principles of natural justice. Despite the Revenue's arguments for penalty restoration due to delay, the Tribunal sustained the cancellation, emphasizing procedural irregularities and the assessee's genuine belief regarding tax liability. The Revenue's appeal was dismissed, affirming the AAC's decision. en-us Tue, 17 Jan 1978 00:00:00 +0530 Fri, 18 Feb 2011 13:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65692 The Appellate Tribunal upheld the cancellation of a penalty under section 18(1)(a) for the assessment year 1964-65, imposed by the Wealth Tax Officer (WTO). The Tribunal found that the WTO's failure to specify the default section for the penalty and lack of opportunity for the assessee to respond violated principles of natural justice. Despite the Revenue's arguments for penalty restoration due to delay, the Tribunal sustained the cancellation, emphasizing procedural irregularities and the assessee's genuine belief regarding tax liability. The Revenue's appeal was dismissed, affirming the AAC's decision. Case-Laws Wealth-tax Tue, 17 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65692