https://www.taxtmi.com/circulars?id=8342 Where an assessee's returned net wealth falls short of assessed wealth beyond the 25% tolerance solely because disputed tax demands were claimed in the return to preserve rectification rights under section 35(2), the Board considers that such claiming does not demonstrate fraud or gross or wilful neglect and penalty under section 18(1)(c) should not be levied. en-us Thu, 12 Jun 1969 00:00:00 +0530 Thu, 02 Dec 2010 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8342 Where an assessee's returned net wealth falls short of assessed wealth beyond the 25% tolerance solely because disputed tax demands were claimed in the return to preserve rectification rights under section 35(2), the Board considers that such claiming does not demonstrate fraud or gross or wilful neglect and penalty under section 18(1)(c) should not be levied. Circulars Income Tax Thu, 12 Jun 1969 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8342