https://www.taxtmi.com/caselaws?id=67392 The Appellate Tribunal partially allowed one appeal and fully allowed another in the case of M/s Jiyalal Shyamlal (HUF) for the assessment year 1972-73. The penalties under sections 18(1)(a) and 18(1)(b) of the Wealth Tax Act were reduced by the Assistant Commissioner of Wealth Tax. The Tribunal upheld the penalties but directed the Wealth Tax Officer to compute the penalty amount for a specific period of delay. It determined that the delay in filing the return of wealth was without reasonable cause and canceled the penalty under section 18(1)(b) for non-compliance with a notice under section 16(4) due to inadequate specification of document requirements. en-us Thu, 31 Dec 1987 00:00:00 +0530 Thu, 10 Mar 2011 13:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67392 The Appellate Tribunal partially allowed one appeal and fully allowed another in the case of M/s Jiyalal Shyamlal (HUF) for the assessment year 1972-73. The penalties under sections 18(1)(a) and 18(1)(b) of the Wealth Tax Act were reduced by the Assistant Commissioner of Wealth Tax. The Tribunal upheld the penalties but directed the Wealth Tax Officer to compute the penalty amount for a specific period of delay. It determined that the delay in filing the return of wealth was without reasonable cause and canceled the penalty under section 18(1)(b) for non-compliance with a notice under section 16(4) due to inadequate specification of document requirements. Case-Laws Wealth-tax Thu, 31 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67392