https://www.taxtmi.com/caselaws?id=356122 The Tribunal canceled the penalty imposed under section 18(1)(c) of the Wealth Tax Act due to the penalty notice being issued without specifying the exact reason for initiation, rendering it invalid. As a result, the Tribunal set aside the lower authorities' orders and allowed the appeals filed by the assessees, leading to the cancellation of the penalty. en-us Fri, 23 Feb 2018 00:00:00 +0530 Mon, 26 Feb 2018 08:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356122 The Tribunal canceled the penalty imposed under section 18(1)(c) of the Wealth Tax Act due to the penalty notice being issued without specifying the exact reason for initiation, rendering it invalid. As a result, the Tribunal set aside the lower authorities' orders and allowed the appeals filed by the assessees, leading to the cancellation of the penalty. Case-Laws Wealth-tax Fri, 23 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356122