https://www.taxtmi.com/caselaws?id=329866 The Tribunal upheld the Commissioner of Wealth Tax (Appeals)' decision to reduce the penalty imposed under Section 18(1)(c) of the Wealth Tax Act. The Tribunal found that the assessee had not concealed any information and had reasonably valued the properties, leading to the dismissal of the Revenue's appeals for the assessment years 2005-06 to 2009-10. Consequently, no penalty for concealment of wealth was deemed necessary. en-us Thu, 30 Jun 2016 00:00:00 +0530 Mon, 11 Jul 2016 13:42:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329866 The Tribunal upheld the Commissioner of Wealth Tax (Appeals)' decision to reduce the penalty imposed under Section 18(1)(c) of the Wealth Tax Act. The Tribunal found that the assessee had not concealed any information and had reasonably valued the properties, leading to the dismissal of the Revenue's appeals for the assessment years 2005-06 to 2009-10. Consequently, no penalty for concealment of wealth was deemed necessary. Case-Laws Wealth-tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329866