https://www.taxtmi.com/caselaws?id=28794 The High Court upheld the decision of the Appellate Tribunal to grant partial relief instead of quashing the penalty order. It was determined that mens rea was not necessary for imposing penalties for late submission of returns under the Wealth Tax Act. The Court agreed that the press note dated June 2, 1969, had no legal force in penalty imposition considerations. However, the Tribunal's ruling that the default was a continuing wrong was overturned, clarifying that penalties should be based on the law in force on the last date for filing the return. en-us Wed, 13 Jan 1982 00:00:00 +0530 Thu, 25 Feb 2010 17:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28794 The High Court upheld the decision of the Appellate Tribunal to grant partial relief instead of quashing the penalty order. It was determined that mens rea was not necessary for imposing penalties for late submission of returns under the Wealth Tax Act. The Court agreed that the press note dated June 2, 1969, had no legal force in penalty imposition considerations. However, the Tribunal's ruling that the default was a continuing wrong was overturned, clarifying that penalties should be based on the law in force on the last date for filing the return. Case-Laws Wealth-tax Wed, 13 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28794