https://www.taxtmi.com/caselaws?id=28506 The court held that the default under Section 14(1) of the Wealth-tax Act continued and penalty could be imposed despite the issuance of a notice under Section 14(2). However, the court found that the Tribunal erred in canceling the penalty instead of remanding the case back to the Wealth-tax Officer due to limitations under Section 18(5) of the Act. The court ruled in favor of the continuation of the penalty for default under Section 14(1) but against canceling the penalty, directing the case to be remanded to the Wealth-tax Officer. en-us Tue, 09 Feb 1982 00:00:00 +0530 Tue, 23 Feb 2010 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28506 The court held that the default under Section 14(1) of the Wealth-tax Act continued and penalty could be imposed despite the issuance of a notice under Section 14(2). However, the court found that the Tribunal erred in canceling the penalty instead of remanding the case back to the Wealth-tax Officer due to limitations under Section 18(5) of the Act. The court ruled in favor of the continuation of the penalty for default under Section 14(1) but against canceling the penalty, directing the case to be remanded to the Wealth-tax Officer. Case-Laws Wealth-tax Tue, 09 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28506