https://www.taxtmi.com/caselaws?id=56356 The Tribunal concluded that penalties under Section 18(1)(c) of the Wealth Tax Act were not justified as differences in wealth estimates arose from varying methods applied by the assessee and the tax authorities based on the same documents. The Tribunal found no conscious concealment of wealth, leading to the cancellation of penalties imposed for the assessment years 1974-75 and 1975-76. en-us Wed, 29 Jul 1992 00:00:00 +0530 Fri, 03 Dec 2010 12:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56356 The Tribunal concluded that penalties under Section 18(1)(c) of the Wealth Tax Act were not justified as differences in wealth estimates arose from varying methods applied by the assessee and the tax authorities based on the same documents. The Tribunal found no conscious concealment of wealth, leading to the cancellation of penalties imposed for the assessment years 1974-75 and 1975-76. Case-Laws Income Tax Wed, 29 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56356