2003 (12) TMI 26

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ks quashing of order dated January 29, 1985, passed by respondent No. 1 being annexure P. 13, dismissing the application of the petitioner dated February 1,1983, seeking waiver of penalty under section 18(1)(a) of the Wealth-tax Act, 1957 (for short, "the Act"), for the assessment years 1971-72 to 1974-75 and another petition in respect of the assessment year 1975-76. The case of the petitioner....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ction 18B of the Act for waiver of the penalty giving reasons for the delay in submitting the returns. The application was dismissed holding that the delay in filing of the returns was on account of negligence of the assessee and no extension of time was sought for delaying the same. Learned counsel for the petitioner submitted that though levy of penalty may be justified when there was unexpla....