https://www.taxtmi.com/caselaws?id=67811 The stay application by the assessee for a demand of Rs. 2,57,757 for the assessment years 1973-74 to 1975-76 was partially allowed. The demand for the assessment year 1975-76 was stayed pending a decision by the third member, while the remaining demand for the assessment years 1973-74 and 1974-75 was to be paid by the assessee. The Tribunal upheld penalties imposed under section 18(1)(c) of the Wealth Tax Act for concealment of wealth, leading to a reference to the Hon'ble president, ITAT for resolution. The decision was based on the specific circumstances of the case and was not to set a precedent. en-us Sat, 20 Mar 1982 00:00:00 +0530 Mon, 14 Mar 2011 17:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67811 The stay application by the assessee for a demand of Rs. 2,57,757 for the assessment years 1973-74 to 1975-76 was partially allowed. The demand for the assessment year 1975-76 was stayed pending a decision by the third member, while the remaining demand for the assessment years 1973-74 and 1974-75 was to be paid by the assessee. The Tribunal upheld penalties imposed under section 18(1)(c) of the Wealth Tax Act for concealment of wealth, leading to a reference to the Hon'ble president, ITAT for resolution. The decision was based on the specific circumstances of the case and was not to set a precedent. Case-Laws Wealth-tax Sat, 20 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67811