https://www.taxtmi.com/caselaws?id=35947 The High Court upheld the Tribunal's decision regarding the absence of a reasonable cause for the late filing of wealth returns by the assessee for the assessment years 1969-70 and 1970-71. The Court found the explanation provided by the assessee insufficient, emphasizing that the individual had previously filed income tax returns, indicating clarity on his status. Consequently, the Court ruled in favor of upholding the penalties imposed by the Wealth-tax Officer due to the delays in filing the returns, ordering each party to bear their own costs in the reference proceedings. en-us Fri, 30 Nov 1979 00:00:00 +0530 Thu, 18 Mar 2010 11:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35947 The High Court upheld the Tribunal's decision regarding the absence of a reasonable cause for the late filing of wealth returns by the assessee for the assessment years 1969-70 and 1970-71. The Court found the explanation provided by the assessee insufficient, emphasizing that the individual had previously filed income tax returns, indicating clarity on his status. Consequently, the Court ruled in favor of upholding the penalties imposed by the Wealth-tax Officer due to the delays in filing the returns, ordering each party to bear their own costs in the reference proceedings. Case-Laws Wealth-tax Fri, 30 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35947