1979 (1) TMI 130

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....of wealth were due from the assessee for the three assessment years under appeal by30th June, 1964,30th June, 1965and30th June, 1966. However the assessee actually filed the returns for the asst. yrs. 1964-65 & 1965-66 on10th Aug., 1973and for the asst. yr. 1966-67 on19th Aug., 1973. The delay in filing the returns was sought to be explained by the assessee on the ground that she was under bona fide belief that her wealth was below the taxable limit which was reduced from Rs. 2 lacs to 1 lac. This explanation was rejected by the WTO. He imposed penalties at the rate of 2 per cent on the WT payable by the assessee for the delay up to 31st March, 1969 and equal to 1/2 of the net wealth for the period from 1st April, 1969 to 30th July, 1973 as....

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....ed on the decision of the Kerala High Court in CWT, Kerala vs. Smt. Pathummabi (2). Reliance was also placed on the decision of the Supreme Court in ITO, A-Ward,Gwaliorvs. Gwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. (3) 5. On behalf of the assessee, it was submitted that the view taken by the AAC that the default was complete on the dates the returns were due was complete on the dates the returns were due was fully supported by the decision of the Allahabad High Court in the case of Ram Narain Aggarwas(1) and the decision of the Punjab & Haryana High Court in the case of Suresh Seth vs. CWT(4). Reliance was also placed on the decisions: Add. CWT, Madras-II,Madrasvs. Babulal K. Shah & Anr.(5). GWT,Mysorevs. G.S. Manivi & Ors....