https://www.taxtmi.com/caselaws?id=5687 Delay in filing wealth-tax returns was considered under the discretionary relief provision for penalty reduction. Because the returns were filed before any notice under section 14(2), the assessee had disclosed net wealth and had participated in the assessment proceedings, the Commissioner's refusal to grant relief was treated as unduly harsh on the facts. The substantial delay did not justify retaining the full penalty at the imposed level, and the penalty was reduced to 50 per cent of the amount levied. en-us Tue, 05 May 1998 00:00:00 +0530 Thu, 27 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5687 Delay in filing wealth-tax returns was considered under the discretionary relief provision for penalty reduction. Because the returns were filed before any notice under section 14(2), the assessee had disclosed net wealth and had participated in the assessment proceedings, the Commissioner's refusal to grant relief was treated as unduly harsh on the facts. The substantial delay did not justify retaining the full penalty at the imposed level, and the penalty was reduced to 50 per cent of the amount levied. Case-Laws Income Tax Tue, 05 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5687