https://www.taxtmi.com/caselaws?id=57029 The Tribunal allowed the appeals of all three assessees, canceling the penalties levied under section 18(1)(c) for the low value of jewellery shown in the returns. The Tribunal held that Explanation 4 to section 18(1)(c) was not applicable as the value of jewellery was estimated, not determined, and the penalties were unsustainable. en-us Mon, 06 Sep 1993 00:00:00 +0530 Wed, 08 Dec 2010 09:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57029 The Tribunal allowed the appeals of all three assessees, canceling the penalties levied under section 18(1)(c) for the low value of jewellery shown in the returns. The Tribunal held that Explanation 4 to section 18(1)(c) was not applicable as the value of jewellery was estimated, not determined, and the penalties were unsustainable. Case-Laws Wealth-tax Mon, 06 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57029