https://www.taxtmi.com/caselaws?id=58559 The Tribunal upheld the levy of penalties under section 18(1)(c) of the Wealth-tax Act for concealment of wealth but reduced them to the minimum for the assessment years 1974-75 and 1975-76. The Tribunal directed the Wealth Tax Officer to determine the minimum penalty for the assessment year 1976-77 based on the wealth-tax evaded. The appeals were partly allowed, emphasizing that even a minor assessee is accountable for the actions of their guardian in matters of wealth declaration and tax law compliance. en-us Fri, 25 May 1984 00:00:00 +0530 Mon, 20 Dec 2010 16:02:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58559 The Tribunal upheld the levy of penalties under section 18(1)(c) of the Wealth-tax Act for concealment of wealth but reduced them to the minimum for the assessment years 1974-75 and 1975-76. The Tribunal directed the Wealth Tax Officer to determine the minimum penalty for the assessment year 1976-77 based on the wealth-tax evaded. The appeals were partly allowed, emphasizing that even a minor assessee is accountable for the actions of their guardian in matters of wealth declaration and tax law compliance. Case-Laws Wealth-tax Fri, 25 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58559