https://www.taxtmi.com/caselaws?id=29103 The court quashed the decision imposing penalties on the petitioner-assessee under section 18(2A) of the Wealth Tax Act for late submissions. The lack of reasons in the order and failure to differentiate between penalty provisions led to a violation of natural justice principles. Emphasizing the discretionary power to reduce or waive penalties, the court stressed the importance of providing reasons for such decisions. The absence of reasons rendered the decision unsustainable, prompting the court to remit the matter for proper disposal with reasons to uphold fairness and transparency. en-us Thu, 04 Feb 1982 00:00:00 +0530 Wed, 10 Mar 2010 17:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29103 The court quashed the decision imposing penalties on the petitioner-assessee under section 18(2A) of the Wealth Tax Act for late submissions. The lack of reasons in the order and failure to differentiate between penalty provisions led to a violation of natural justice principles. Emphasizing the discretionary power to reduce or waive penalties, the court stressed the importance of providing reasons for such decisions. The absence of reasons rendered the decision unsustainable, prompting the court to remit the matter for proper disposal with reasons to uphold fairness and transparency. Case-Laws Wealth-tax Thu, 04 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29103