https://www.taxtmi.com/caselaws?id=22677 The court held that the penalties imposed under section 18(1)(c) of the Wealth-tax Act for the assessment years 1965-66 to 1968-69 were unjustified. It emphasized that concealment or furnishing inaccurate particulars must be a conscious act, referencing the principles in CIT v. Anwar Ali. The court found that the representative's statement did not amount to an admission of concealing assets, leading to the conclusion that section 18(1)(c) was not applicable in this case. The judgment clarified the requirement for deliberate concealment to impose penalties under the Wealth-tax Act. en-us Fri, 15 Mar 1991 00:00:00 +0530 Sat, 12 Dec 2009 12:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22677 The court held that the penalties imposed under section 18(1)(c) of the Wealth-tax Act for the assessment years 1965-66 to 1968-69 were unjustified. It emphasized that concealment or furnishing inaccurate particulars must be a conscious act, referencing the principles in CIT v. Anwar Ali. The court found that the representative's statement did not amount to an admission of concealing assets, leading to the conclusion that section 18(1)(c) was not applicable in this case. The judgment clarified the requirement for deliberate concealment to impose penalties under the Wealth-tax Act. Case-Laws Wealth-tax Fri, 15 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22677