https://www.taxtmi.com/caselaws?id=36791 The court set aside the order of the Wealth Tax Commissioner imposing penalties under section 18(1)(a) of the Wealth Tax Act for various assessment years. The Commissioner's reduction of penalties lacked clear evaluation principles and a judicious exercise of power. Penalties for late filing should align with laws at the due date, and the imposed penalties were deemed excessive. The Commissioner's discretion to waive or reduce penalties must be exercised judiciously, considering all relevant factors. A fresh decision was ordered after a proper hearing to ensure fair and comprehensive assessment of penalties under section 18(2A) for just outcomes. en-us Wed, 31 Oct 1979 00:00:00 +0530 Wed, 24 Mar 2010 15:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36791 The court set aside the order of the Wealth Tax Commissioner imposing penalties under section 18(1)(a) of the Wealth Tax Act for various assessment years. The Commissioner's reduction of penalties lacked clear evaluation principles and a judicious exercise of power. Penalties for late filing should align with laws at the due date, and the imposed penalties were deemed excessive. The Commissioner's discretion to waive or reduce penalties must be exercised judiciously, considering all relevant factors. A fresh decision was ordered after a proper hearing to ensure fair and comprehensive assessment of penalties under section 18(2A) for just outcomes. Case-Laws Wealth-tax Wed, 31 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36791