https://www.taxtmi.com/caselaws?id=28714 The High Court of Calcutta ruled in a case involving a penalty imposed under section 18(1)(a) of the Wealth Tax Act due to late filing of net wealth return. The court emphasized the need to determine the actual tax payable based on the demand notice, following principles from previous decisions. The Tribunal was directed to calculate the penalty based on the determined tax payable, ensuring accuracy in penalty assessment. The judgment highlighted the importance of consistency with previous court interpretations and directed each party to bear its costs. en-us Mon, 09 Aug 1982 00:00:00 +0530 Thu, 25 Feb 2010 10:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28714 The High Court of Calcutta ruled in a case involving a penalty imposed under section 18(1)(a) of the Wealth Tax Act due to late filing of net wealth return. The court emphasized the need to determine the actual tax payable based on the demand notice, following principles from previous decisions. The Tribunal was directed to calculate the penalty based on the determined tax payable, ensuring accuracy in penalty assessment. The judgment highlighted the importance of consistency with previous court interpretations and directed each party to bear its costs. Case-Laws Wealth-tax Mon, 09 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28714