https://www.taxtmi.com/caselaws?id=26829 The court upheld the penalties imposed under the Wealth-tax Act for six assessment years, except for 1973-74, citing lack of reasonable cause for delayed filing of returns. It rejected the argument that studying abroad constituted reasonable cause. The court ruled that notices by the Wealth-tax Officer did not need to specify commencement and termination of defaults for penalty proceedings. The decision favored the Revenue, directing each party to bear their own costs. en-us Fri, 07 Feb 1986 00:00:00 +0530 Mon, 08 Feb 2010 17:00:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26829 The court upheld the penalties imposed under the Wealth-tax Act for six assessment years, except for 1973-74, citing lack of reasonable cause for delayed filing of returns. It rejected the argument that studying abroad constituted reasonable cause. The court ruled that notices by the Wealth-tax Officer did not need to specify commencement and termination of defaults for penalty proceedings. The decision favored the Revenue, directing each party to bear their own costs. Case-Laws Wealth-tax Fri, 07 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26829