https://www.taxtmi.com/caselaws?id=37653 The court overturned the Commissioner's decision to reject the petitioner's application for penalty waiver under s. 18(2A) of the Wealth Tax Act. The court emphasized the importance of assessing the petitioner's good faith and intention of honesty in the disclosure process. It was determined that the Commissioner failed to properly consider these aspects, leading to the decision being remanded for a fresh evaluation in accordance with the law. Consequently, the writ petition succeeded, quashing the Central Wealth Tax's order and directing a reassessment of the penalty waiver application with due regard to good faith and full disclosure requirements. en-us Thu, 16 Feb 1978 00:00:00 +0530 Wed, 31 Mar 2010 11:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37653 The court overturned the Commissioner's decision to reject the petitioner's application for penalty waiver under s. 18(2A) of the Wealth Tax Act. The court emphasized the importance of assessing the petitioner's good faith and intention of honesty in the disclosure process. It was determined that the Commissioner failed to properly consider these aspects, leading to the decision being remanded for a fresh evaluation in accordance with the law. Consequently, the writ petition succeeded, quashing the Central Wealth Tax's order and directing a reassessment of the penalty waiver application with due regard to good faith and full disclosure requirements. Case-Laws Wealth-tax Thu, 16 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37653