https://www.taxtmi.com/caselaws?id=19408 The criminal complaints filed against the petitioners were quashed as the Tribunal's decision found the tenancy rights not includible in net wealth, leading to penalties being canceled. The penalties under section 18(1)(c) of the Wealth-tax Act were quashed due to the petitioners' good faith belief in non-taxability. Prosecution under sections 35A(1) and 35D of the Wealth-tax Act was deemed unwarranted as no wilful tax evasion or false information was found. Following precedent, the court quashed criminal prosecutions against the petitioners, emphasizing the absence of criminal liability and directing the respondents to cover the petitioners' costs to avoid unjust harassment. en-us Wed, 25 Aug 1993 00:00:00 +0530 Fri, 06 Nov 2009 10:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19408 The criminal complaints filed against the petitioners were quashed as the Tribunal's decision found the tenancy rights not includible in net wealth, leading to penalties being canceled. The penalties under section 18(1)(c) of the Wealth-tax Act were quashed due to the petitioners' good faith belief in non-taxability. Prosecution under sections 35A(1) and 35D of the Wealth-tax Act was deemed unwarranted as no wilful tax evasion or false information was found. Following precedent, the court quashed criminal prosecutions against the petitioners, emphasizing the absence of criminal liability and directing the respondents to cover the petitioners' costs to avoid unjust harassment. Case-Laws Wealth-tax Wed, 25 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19408