https://www.taxtmi.com/caselaws?id=58172 Wealth-tax return filing delays may attract penalty only for periods not covered by reasonable cause. Extension applications and the Wealth-tax Officer's non-response can establish reasonable cause for the requested period, even if the applications were not personally signed, where surrounding circumstances show a genuine request for time. For one assessment year, penalty was not leviable because the extension request covered the return-filing date; for another, penalty remained for delay after 31 March 1971 because no further extension or sufficient cause was established. Penalty for the continuing default is computed under the law in force when the assessment is completed, as penalty becomes exigible after assessment. en-us Wed, 14 Jan 1987 00:00:00 +0530 Fri, 17 Dec 2010 16:57:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58172 Wealth-tax return filing delays may attract penalty only for periods not covered by reasonable cause. Extension applications and the Wealth-tax Officer's non-response can establish reasonable cause for the requested period, even if the applications were not personally signed, where surrounding circumstances show a genuine request for time. For one assessment year, penalty was not leviable because the extension request covered the return-filing date; for another, penalty remained for delay after 31 March 1971 because no further extension or sufficient cause was established. Penalty for the continuing default is computed under the law in force when the assessment is completed, as penalty becomes exigible after assessment. Case-Laws Wealth-tax Wed, 14 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58172