https://www.taxtmi.com/caselaws?id=61202 The appeals by the assessee against penalties imposed for late filing of wealth tax returns for the assessment years 1969-70 and 1970-71 were successful. The Tribunal found that the penalties were not justified due to valid reasons provided by the assessee, including being out of town during the notice period and facing financial difficulties in the concerned firms. Consequently, the penalties imposed by the WTO were cancelled for both assessment years. en-us Sat, 19 Jun 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61202 The appeals by the assessee against penalties imposed for late filing of wealth tax returns for the assessment years 1969-70 and 1970-71 were successful. The Tribunal found that the penalties were not justified due to valid reasons provided by the assessee, including being out of town during the notice period and facing financial difficulties in the concerned firms. Consequently, the penalties imposed by the WTO were cancelled for both assessment years. Case-Laws Wealth-tax Sat, 19 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61202