https://www.taxtmi.com/caselaws?id=56815 The Tribunal set aside the penalties imposed under section 18(1)(a) of the Wealth-tax Act for the assessment years 1973-74 and 1974-75 due to non-compliance with notice requirements. It emphasized procedural fairness, allowing the assessee to raise new grounds at the appellate stage and directing the learned AAC to address issues raised for the first time. The judgment underscored the importance of adhering to legal principles in penalty imposition and ensuring proper hearings for assessing penalty validity. en-us Fri, 30 Jan 1987 00:00:00 +0530 Mon, 06 Dec 2010 18:03:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56815 The Tribunal set aside the penalties imposed under section 18(1)(a) of the Wealth-tax Act for the assessment years 1973-74 and 1974-75 due to non-compliance with notice requirements. It emphasized procedural fairness, allowing the assessee to raise new grounds at the appellate stage and directing the learned AAC to address issues raised for the first time. The judgment underscored the importance of adhering to legal principles in penalty imposition and ensuring proper hearings for assessing penalty validity. Case-Laws Wealth-tax Fri, 30 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56815