https://www.taxtmi.com/caselaws?id=9798 The High Court upheld the penalty imposed under section 18(1)(a) of the Wealth-tax Act for failure to furnish the wealth-tax return within the specified time for the assessment year 1979-80. The Court found that the penalties were valid, as the assessee did not disclose income within the prescribed dates as per the circular issued by the Central Board of Direct Taxes. The Tribunal's decision to cancel the penalties was overturned, and the Court ruled in favor of the Revenue, affirming the imposition of the penalty. en-us Tue, 08 Feb 2005 00:00:00 +0530 Wed, 01 Jul 2009 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9798 The High Court upheld the penalty imposed under section 18(1)(a) of the Wealth-tax Act for failure to furnish the wealth-tax return within the specified time for the assessment year 1979-80. The Court found that the penalties were valid, as the assessee did not disclose income within the prescribed dates as per the circular issued by the Central Board of Direct Taxes. The Tribunal's decision to cancel the penalties was overturned, and the Court ruled in favor of the Revenue, affirming the imposition of the penalty. Case-Laws Wealth-tax Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9798