https://www.taxtmi.com/caselaws?id=357768 The High Court upheld the Tribunal's decision that the assessee is liable to pay interest under Section 17B(1) of the Wealth Tax Act for the assessment years 2007-08 and 2008-09. The court dismissed the appeals, stating that the interest is compensatory and mandatory for the delay in filing returns, and the assessments made for the first time under Section 17 are considered regular assessments. The court found no substantial question of law warranting interference and dismissed the appeals accordingly. en-us Tue, 20 Feb 2018 00:00:00 +0530 Thu, 31 May 2018 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357768 The High Court upheld the Tribunal's decision that the assessee is liable to pay interest under Section 17B(1) of the Wealth Tax Act for the assessment years 2007-08 and 2008-09. The court dismissed the appeals, stating that the interest is compensatory and mandatory for the delay in filing returns, and the assessments made for the first time under Section 17 are considered regular assessments. The court found no substantial question of law warranting interference and dismissed the appeals accordingly. Case-Laws Wealth-tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357768