https://www.taxtmi.com/caselaws?id=29175 The High Court upheld the decision of the Appellate Tribunal to set aside the penalty orders imposed under section 18(1)(a) of the Wealth Tax Act, 1957 for late filing of returns by three assessees. The Court ruled in favor of the Revenue, emphasizing the necessity for assessees to provide proper explanations for delays in filing returns, even when citing reasonable cause. The case was remanded to the Appellate Assistant Commissioner for a lawful decision, with costs awarded to the Revenue amounting to Rs. 200, along with counsel fees of the same amount. en-us Mon, 12 Nov 1979 00:00:00 +0530 Thu, 11 Mar 2010 12:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29175 The High Court upheld the decision of the Appellate Tribunal to set aside the penalty orders imposed under section 18(1)(a) of the Wealth Tax Act, 1957 for late filing of returns by three assessees. The Court ruled in favor of the Revenue, emphasizing the necessity for assessees to provide proper explanations for delays in filing returns, even when citing reasonable cause. The case was remanded to the Appellate Assistant Commissioner for a lawful decision, with costs awarded to the Revenue amounting to Rs. 200, along with counsel fees of the same amount. Case-Laws Wealth-tax Mon, 12 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29175