https://www.taxtmi.com/caselaws?id=38254 The court held that the Commissioner erred in refusing to waive or reduce the penalty for late filing of returns for assessment years 1969-70 and 1970-71. The court clarified that the term "voluntarily" in Section 18(2A) of the Wealth-tax Act refers to the disclosure of net wealth, not the act of filing returns. The Commissioner must reconsider the application under Section 18(2A) in line with the correct legal interpretation, and the rule was made absolute in favor of the petitioner, with costs awarded to them. en-us Fri, 17 Feb 1978 00:00:00 +0530 Mon, 05 Apr 2010 11:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38254 The court held that the Commissioner erred in refusing to waive or reduce the penalty for late filing of returns for assessment years 1969-70 and 1970-71. The court clarified that the term "voluntarily" in Section 18(2A) of the Wealth-tax Act refers to the disclosure of net wealth, not the act of filing returns. The Commissioner must reconsider the application under Section 18(2A) in line with the correct legal interpretation, and the rule was made absolute in favor of the petitioner, with costs awarded to them. Case-Laws Wealth-tax Fri, 17 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38254