https://www.taxtmi.com/caselaws?id=28875 The High Court of Punjab and Haryana ruled that the Commissioner cannot ignore the statutory conditions outlined in section 18B of the Wealth Tax Act when exercising discretion to reduce or waive a penalty. The court emphasized the importance of adhering to these conditions and required the Commissioner to reconsider the penalty imposition in line with the statutory requirements and relevant factors. The court partially quashed the Commissioner's order, directing a rehearing based on statutory conditions and relevant considerations, without awarding costs to the petitioner. en-us Tue, 10 Nov 1981 00:00:00 +0530 Mon, 08 Mar 2010 12:44:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28875 The High Court of Punjab and Haryana ruled that the Commissioner cannot ignore the statutory conditions outlined in section 18B of the Wealth Tax Act when exercising discretion to reduce or waive a penalty. The court emphasized the importance of adhering to these conditions and required the Commissioner to reconsider the penalty imposition in line with the statutory requirements and relevant factors. The court partially quashed the Commissioner's order, directing a rehearing based on statutory conditions and relevant considerations, without awarding costs to the petitioner. Case-Laws Wealth-tax Tue, 10 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28875