https://www.taxtmi.com/caselaws?id=14749 The High Court interpreted penalty provisions under section 18(1)(c) of the Wealth-tax Act, 1957, in a case involving a Rs. 25,000 penalty on the assessee for alleged concealment of wealth. The Tribunal found discrepancies but ruled they were bona fide errors, not deliberate concealment. Upholding the Tribunal's decision, the Court emphasized the factual nature of the findings and the lack of intent to hide assets, leading to the cancellation of the penalty. en-us Tue, 04 Jul 2000 00:00:00 +0530 Sat, 18 Jul 2009 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14749 The High Court interpreted penalty provisions under section 18(1)(c) of the Wealth-tax Act, 1957, in a case involving a Rs. 25,000 penalty on the assessee for alleged concealment of wealth. The Tribunal found discrepancies but ruled they were bona fide errors, not deliberate concealment. Upholding the Tribunal's decision, the Court emphasized the factual nature of the findings and the lack of intent to hide assets, leading to the cancellation of the penalty. Case-Laws Wealth-tax Tue, 04 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14749