https://www.taxtmi.com/caselaws?id=58418 The Tribunal canceled the penalty imposed by the WTO for the belated filing of the net wealth return for the assessment year 1974-75. Despite deficiencies in the penalty notice and lack of verification of the explanations provided by the assessee, the Tribunal found the penalty imposition to be casual and lacking necessary care. It concluded that the penalty order should be canceled as valid reasons for the delay were presented. The appeal was allowed, and the penalty order was revoked. en-us Thu, 10 Aug 1978 00:00:00 +0530 Sat, 18 Dec 2010 18:42:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58418 The Tribunal canceled the penalty imposed by the WTO for the belated filing of the net wealth return for the assessment year 1974-75. Despite deficiencies in the penalty notice and lack of verification of the explanations provided by the assessee, the Tribunal found the penalty imposition to be casual and lacking necessary care. It concluded that the penalty order should be canceled as valid reasons for the delay were presented. The appeal was allowed, and the penalty order was revoked. Case-Laws Wealth-tax Thu, 10 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58418