https://www.taxtmi.com/caselaws?id=22390 The High Court of ALLAHABAD allowed the writ petition challenging the Commissioner of Wealth-tax's decision to reject an application for penalty waiver under section 18B of the Wealth-tax Act, 1957. The court emphasized the importance of full and true disclosure of net wealth in good faith, ruling in favor of the petitioner based on a previous case establishing that good faith disclosure is a single condition. The court quashed the Commissioner's order, directing a reconsideration of the penalty waiver application in accordance with the principles outlined in the previous case, with no costs awarded. en-us Mon, 18 Feb 1991 00:00:00 +0530 Wed, 09 Dec 2009 16:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22390 The High Court of ALLAHABAD allowed the writ petition challenging the Commissioner of Wealth-tax's decision to reject an application for penalty waiver under section 18B of the Wealth-tax Act, 1957. The court emphasized the importance of full and true disclosure of net wealth in good faith, ruling in favor of the petitioner based on a previous case establishing that good faith disclosure is a single condition. The court quashed the Commissioner's order, directing a reconsideration of the penalty waiver application in accordance with the principles outlined in the previous case, with no costs awarded. Case-Laws Wealth-tax Mon, 18 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22390