https://www.taxtmi.com/caselaws?id=24137 The High Court upheld the penalty imposed under section 18(1)(a) of the Wealth-tax Act for the assessee's failure to file returns within the statutory period prescribed by section 14(1), despite later filing in response to notices under section 14(2). The court ruled that filing returns after the initial default did not absolve the assessee of the penalty for the earlier non-compliance. The decision favored the Revenue, confirming the justification of the penalty imposed for the default in filing returns under section 14(1) for the relevant assessment years. en-us Thu, 16 Mar 1989 00:00:00 +0530 Sat, 16 Jan 2010 18:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24137 The High Court upheld the penalty imposed under section 18(1)(a) of the Wealth-tax Act for the assessee's failure to file returns within the statutory period prescribed by section 14(1), despite later filing in response to notices under section 14(2). The court ruled that filing returns after the initial default did not absolve the assessee of the penalty for the earlier non-compliance. The decision favored the Revenue, confirming the justification of the penalty imposed for the default in filing returns under section 14(1) for the relevant assessment years. Case-Laws Wealth-tax Thu, 16 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24137