https://www.taxtmi.com/caselaws?id=56689 The Tribunal upheld the AAC's order canceling penalties for the assessment years 1967-68 to 1970-71, finding the delay in filing Wealth Tax returns justified due to accounting delays. The Department's appeals were dismissed, affirming that penalty proceedings initiation was valid, opportunity of being heard was provided, defects in penalty notices did not invalidate proceedings, and penalties under different sections of the Wealth Tax Act were not applicable due to reasonable cause for delay. en-us Wed, 04 May 1977 00:00:00 +0530 Mon, 06 Dec 2010 13:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56689 The Tribunal upheld the AAC's order canceling penalties for the assessment years 1967-68 to 1970-71, finding the delay in filing Wealth Tax returns justified due to accounting delays. The Department's appeals were dismissed, affirming that penalty proceedings initiation was valid, opportunity of being heard was provided, defects in penalty notices did not invalidate proceedings, and penalties under different sections of the Wealth Tax Act were not applicable due to reasonable cause for delay. Case-Laws Wealth-tax Wed, 04 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56689