1983 (7) TMI 105

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....& 31st July, 1875. However, the same had been file don 13th October, 1978, 4th November, 1974, 4th November, 1974 & 31st December, 1975. Since there was considerable delay in filing the returns, the WTO levied penalties amounting to Rs. 11,801 for the asst. yr. 1972-73, Rs. 4,925 for the asst. yr. 1973-74, Rs. 1,176 for the asst. yr. 1974-75 and Rs. 1,708 for the asst. yr. 1975-76. 3. As against there orders of the WTO, the assessee went up in appeal before the AAC, before whom the ld. counsel for the assessee contended that the wealth of the assessee included shares in companies, bank balances and gold ornaments. She was a partner in the firm M/s Vanity Apparels, Bhopal, and had been filing her income-tax returns regularly. She was unde....

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....974 the assessee was well aware that the had to file wealth tax return for the asst. yr. 1972-73 also. With regard to the contention of the ld. counsel for the assessee that the assessee has filed voluntarily returns for the asst. yrs. 1973-74 to 1975-76, the AAC observed that though technically the assessee may take the credit for filing the return voluntarily, as a matter of fact, she filed these returns for the asst. yrs. 1973-74 onwards only when the WTO asked her to give details for her wealth during the income-tax proceedings. With regard to the contention of the assessee that she was under the bona fide impression that her wealth was below taxable limit, and her belief was further supported by the Supreme Court Judgment in the case o....

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....r the asst. yr. 1972-73. He further relied on the decision of this Bench of the Tribunal in WTA No. 52 (Ind)/1981 in the case of Smt. Ratan Bai vs. WTO wherein, on similar facts, the penalty sustained by the AAC was cancelled. 5. The ld. departmental representative, on the other hand, supported the orders of the lower authorities and justified the action of the AAC. 6. We have carefully considered the facts and circumstances of the case and the submissions on either side. The first and foremost plea taken by the assessee is that the assessee is a lady and was under the bona fide belief that her wealth was below taxable limit and hence she did not file the returns in time. The other plea taken by the assessee is that the assessee was u....