https://www.taxtmi.com/caselaws?id=70226 The Tribunal dismissed departmental appeals challenging penalties imposed under the Wealth Tax Act, 1957, for various assessment years. The first appellate authority canceled penalties based on wealth for years up to 1968-69 due to the assessee's genuine difficulty in determining liability. The Tribunal agreed that penalties should not apply without evidence of deliberate non-compliance, emphasizing the lady assessee's circumstances and different valuation methods. It upheld the cancellation of penalties, noting the recent Supreme Court decision supporting the assessee's position on penalty calculation. en-us Wed, 03 Jun 1981 00:00:00 +0530 Fri, 15 Apr 2011 09:49:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70226 The Tribunal dismissed departmental appeals challenging penalties imposed under the Wealth Tax Act, 1957, for various assessment years. The first appellate authority canceled penalties based on wealth for years up to 1968-69 due to the assessee's genuine difficulty in determining liability. The Tribunal agreed that penalties should not apply without evidence of deliberate non-compliance, emphasizing the lady assessee's circumstances and different valuation methods. It upheld the cancellation of penalties, noting the recent Supreme Court decision supporting the assessee's position on penalty calculation. Case-Laws Wealth-tax Wed, 03 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70226