1989 (2) TMI 80

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....on. 27(3) of the Wealth-tax Act, 1957. A common question raised in these applications is whether the Tribunal was justified in cancelling penalty under section 18(1)(a) of the Wealth-tax Act. In allowing the appeal, the Tribunal followed its earlier order. The question before the Tribunal was whether the assessee had, without sufficient cause, failed to furnish her return within the time allowed a....

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.... assessee was that she had filed her return of wealth which was only marginally higher over the exemption limit and the, return could not be filed earlier as she thought that she had no taxable wealth for the years in dispute. These facts are evident from the order passed by the first appellate authority. The Revenue took the matter further in appeal before the Income-tax Appellate Tribunal which ....