https://www.taxtmi.com/caselaws?id=60752 A penalty order for late filing of a wealth-tax return is not invalid merely because the quantum was miscalculated, where the default is otherwise clear and the defect is only computational or procedural. A bona fide mistake in applying a debatable penalty rate does not by itself go to jurisdiction or vitiate the order. However, where the assessee's explanation for delay, including reliance on auditors, banks, or dispersed accounts, has not been properly examined on evidence, the matter requires a fresh factual inquiry and the assessee must be given an opportunity to establish reasonable cause. en-us Sat, 24 Nov 1984 00:00:00 +0530 Fri, 07 Jan 2011 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60752 A penalty order for late filing of a wealth-tax return is not invalid merely because the quantum was miscalculated, where the default is otherwise clear and the defect is only computational or procedural. A bona fide mistake in applying a debatable penalty rate does not by itself go to jurisdiction or vitiate the order. However, where the assessee's explanation for delay, including reliance on auditors, banks, or dispersed accounts, has not been properly examined on evidence, the matter requires a fresh factual inquiry and the assessee must be given an opportunity to establish reasonable cause. Case-Laws Wealth-tax Sat, 24 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60752