https://www.taxtmi.com/caselaws?id=38775 The court interpreted section 18(2A) of the Wealth-tax Act, 1957, finding that the provision allowing waiver of penalties for late submission of returns applied to all assessees, not just new ones. Emphasizing the need for a strict construction of taxing statutes and giving the benefit of ambiguity to the assessee, the court held that the authority must consider waiver requests based on the specified conditions without differentiating between existing and new assessees. The court quashed the previous order and directed the authority to review the petitioner's petition under section 18(2A) without the distinction in mind. en-us Wed, 08 Sep 1976 00:00:00 +0530 Fri, 09 Apr 2010 10:22:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38775 The court interpreted section 18(2A) of the Wealth-tax Act, 1957, finding that the provision allowing waiver of penalties for late submission of returns applied to all assessees, not just new ones. Emphasizing the need for a strict construction of taxing statutes and giving the benefit of ambiguity to the assessee, the court held that the authority must consider waiver requests based on the specified conditions without differentiating between existing and new assessees. The court quashed the previous order and directed the authority to review the petitioner's petition under section 18(2A) without the distinction in mind. Case-Laws Wealth-tax Wed, 08 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38775