https://www.taxtmi.com/caselaws?id=69278 The Appellate Tribunal held that no penalty could be levied under s. 18(1)(c) of the Wealth Tax Act for the assessment years 1957-58 and 1959-60. The Tribunal found no evidence of intentional concealment, considering the complexities in property valuation, the number of properties involved, and confusion caused by municipal actions. It concluded that the revised returns were filed in good faith to rectify valuation discrepancies, leading to the cancellation of penalties. en-us Wed, 25 Apr 1979 00:00:00 +0530 Wed, 06 Apr 2011 10:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69278 The Appellate Tribunal held that no penalty could be levied under s. 18(1)(c) of the Wealth Tax Act for the assessment years 1957-58 and 1959-60. The Tribunal found no evidence of intentional concealment, considering the complexities in property valuation, the number of properties involved, and confusion caused by municipal actions. It concluded that the revised returns were filed in good faith to rectify valuation discrepancies, leading to the cancellation of penalties. Case-Laws Wealth-tax Wed, 25 Apr 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69278