https://www.taxtmi.com/caselaws?id=282806 The Tribunal allowed the appeals, deleting the penalty imposed under section 18(1)(c) of the Wealth Tax Act for both assessment years. The penalty was deemed unsustainable as there was no concealment of material facts, and the appellant genuinely believed the properties did not qualify as assets under the Act. en-us Wed, 28 Sep 2016 00:00:00 +0530 Mon, 26 Aug 2019 17:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282806 The Tribunal allowed the appeals, deleting the penalty imposed under section 18(1)(c) of the Wealth Tax Act for both assessment years. The penalty was deemed unsustainable as there was no concealment of material facts, and the appellant genuinely believed the properties did not qualify as assets under the Act. Case-Laws Wealth-tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282806