https://www.taxtmi.com/caselaws?id=57141 The Appellate Tribunal ITAT Amritsar allowed the appeal of the assessee in a case concerning a penalty for a delay in filing the wealth-tax return under section 18(1)(a) of the Wealth Tax Act for the assessment year 1972-73. The Tribunal held that the second extension application, filed after the due date, should have been considered by the tax authorities based on legal precedents and the requirement for the assessee to demonstrate reasonable cause for the delay. Consequently, the penalty imposed was deemed unjustified, and the appeal was allowed, leading to the deletion of the sustained penalty. en-us Thu, 01 Jan 1981 00:00:00 +0530 Wed, 08 Dec 2010 15:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57141 The Appellate Tribunal ITAT Amritsar allowed the appeal of the assessee in a case concerning a penalty for a delay in filing the wealth-tax return under section 18(1)(a) of the Wealth Tax Act for the assessment year 1972-73. The Tribunal held that the second extension application, filed after the due date, should have been considered by the tax authorities based on legal precedents and the requirement for the assessee to demonstrate reasonable cause for the delay. Consequently, the penalty imposed was deemed unjustified, and the appeal was allowed, leading to the deletion of the sustained penalty. Case-Laws Wealth-tax Thu, 01 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57141