https://www.taxtmi.com/caselaws?id=12736 Penalty under section 18(1)(a) of the Wealth-tax Act must follow the net wealth as finally determined in the fresh quantum assessment. Where the assessment was restored for re-determination of the value of unquoted equity shares on the yield method, the penalty could not remain fixed independently of that reassessment. Recalculation of the penalty in line with the fresh assessment was therefore correct in law and was upheld in favour of the assessee. en-us Mon, 04 Feb 2002 00:00:00 +0530 Thu, 21 May 2009 16:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12736 Penalty under section 18(1)(a) of the Wealth-tax Act must follow the net wealth as finally determined in the fresh quantum assessment. Where the assessment was restored for re-determination of the value of unquoted equity shares on the yield method, the penalty could not remain fixed independently of that reassessment. Recalculation of the penalty in line with the fresh assessment was therefore correct in law and was upheld in favour of the assessee. Case-Laws Income Tax Mon, 04 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12736