https://www.taxtmi.com/caselaws?id=36094 In cases of delayed or non-filing of a wealth-tax return, the assessee's explanation for the delay is within special knowledge, and rejection of that explanation may justify an inference that there was no reasonable cause. For failure to furnish a return, the revenue need not independently prove conscious or deliberate omission where the surrounding circumstances and the rejected explanation support penalty. The document distinguishes concealment cases from non-filing cases and notes that, in the latter situation, an adverse inference from the assessee's unsatisfactory explanation can sustain penalty under the Wealth-tax Act. en-us Mon, 29 Sep 1980 00:00:00 +0530 Fri, 19 Mar 2010 12:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36094 In cases of delayed or non-filing of a wealth-tax return, the assessee's explanation for the delay is within special knowledge, and rejection of that explanation may justify an inference that there was no reasonable cause. For failure to furnish a return, the revenue need not independently prove conscious or deliberate omission where the surrounding circumstances and the rejected explanation support penalty. The document distinguishes concealment cases from non-filing cases and notes that, in the latter situation, an adverse inference from the assessee's unsatisfactory explanation can sustain penalty under the Wealth-tax Act. Case-Laws Wealth-tax Mon, 29 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36094