https://www.taxtmi.com/caselaws?id=65745 The appellate tribunal dismissed the Revenue's appeals and upheld the AAC's decision to cancel penalty orders imposed by the WTO for delayed filing of wealth tax returns. The tribunal found that the delay was justified due to late filing of income tax returns, considering the substantial assets of the assessee. Comparing the case with a decision of the Hon'ble Madras High Court, the tribunal concluded that there was a reasonable cause for the delay, leading to the dismissal of the appeals and no imposition of penalties on the assessee. en-us Mon, 05 Nov 1979 00:00:00 +0530 Fri, 18 Feb 2011 15:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65745 The appellate tribunal dismissed the Revenue's appeals and upheld the AAC's decision to cancel penalty orders imposed by the WTO for delayed filing of wealth tax returns. The tribunal found that the delay was justified due to late filing of income tax returns, considering the substantial assets of the assessee. Comparing the case with a decision of the Hon'ble Madras High Court, the tribunal concluded that there was a reasonable cause for the delay, leading to the dismissal of the appeals and no imposition of penalties on the assessee. Case-Laws Wealth-tax Mon, 05 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65745