https://www.taxtmi.com/caselaws?id=10569 The Tribunal ruled in favor of the assessee, holding that the penalty imposed under section 18(1)(a) of the Wealth-tax Act, 1957 was deleted rightfully by the Appellate Assistant Commissioner. The decision emphasized the importance of considering the application for extension and the reply to the show-cause notice in penalty proceedings. It was deemed that the penalty order was unsustainable due to the failure to provide a proper opportunity of being heard, as the Assessing Officer did not take into account these crucial submissions by the assessee. en-us Mon, 30 Aug 2004 00:00:00 +0530 Fri, 17 Jul 2009 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10569 The Tribunal ruled in favor of the assessee, holding that the penalty imposed under section 18(1)(a) of the Wealth-tax Act, 1957 was deleted rightfully by the Appellate Assistant Commissioner. The decision emphasized the importance of considering the application for extension and the reply to the show-cause notice in penalty proceedings. It was deemed that the penalty order was unsustainable due to the failure to provide a proper opportunity of being heard, as the Assessing Officer did not take into account these crucial submissions by the assessee. Case-Laws Wealth-tax Mon, 30 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10569