https://www.taxtmi.com/caselaws?id=70217 Penalty for late filing of a wealth-tax return was cancelled because the delay was attributable to the time taken to file the income-tax return. The Tribunal held that the proviso to section 14(1) of the Wealth-tax Act recognised filing of the wealth-tax return within the time allowed for the income-tax return, so the statutory scheme did not justify penalising the same delay in wealth-tax proceedings when both returns were filed together after the prescribed dates. The Revenue's appeals were dismissed and the cancellation of penalty was upheld. en-us Tue, 20 Jul 1982 00:00:00 +0530 Thu, 14 Apr 2011 18:46:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70217 Penalty for late filing of a wealth-tax return was cancelled because the delay was attributable to the time taken to file the income-tax return. The Tribunal held that the proviso to section 14(1) of the Wealth-tax Act recognised filing of the wealth-tax return within the time allowed for the income-tax return, so the statutory scheme did not justify penalising the same delay in wealth-tax proceedings when both returns were filed together after the prescribed dates. The Revenue's appeals were dismissed and the cancellation of penalty was upheld. Case-Laws Wealth-tax Tue, 20 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70217