https://www.taxtmi.com/caselaws?id=26230 The Tribunal's cancellation of the penalty under section 18(1)(a) of the Wealth Tax Act, 1957 was upheld by the High Court. The Court found the assessee's explanation for the delay in filing returns to be reasonable and in good faith, justifying the cancellation of the penalty. The High Court dismissed the application for reference to the High Court, emphasizing that the reasonableness of the assessee's explanation was a factual matter already determined by the Tribunal, with no grounds for further review. en-us Mon, 09 Sep 1985 00:00:00 +0530 Wed, 03 Feb 2010 16:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26230 The Tribunal's cancellation of the penalty under section 18(1)(a) of the Wealth Tax Act, 1957 was upheld by the High Court. The Court found the assessee's explanation for the delay in filing returns to be reasonable and in good faith, justifying the cancellation of the penalty. The High Court dismissed the application for reference to the High Court, emphasizing that the reasonableness of the assessee's explanation was a factual matter already determined by the Tribunal, with no grounds for further review. Case-Laws Wealth-tax Mon, 09 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26230