1982 (9) TMI 20

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....ered by OZA, Actg. C.J.-This is a reference made by the Income-tax Appellate Tribunal, Jabalpur, for answering the following question: " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that an appeal before the AAC was maintainable against the WTO's penalty order under section 18(1)(a) of the Wealth-tax Act, 1957, irrespective of th....

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....r s. 18(2A), the appeals were not competent. Against this order of the AAC, the assessee went up in appeal, to the Appellate Tribunal which took the view that the AAC was not right in dismissing the appeals merely on the ground that as the Commissioner had rejected the application u/s. 18(2A), the appeals were not competent. The Tribunal held that the appeals to the Appellate Assistant Commissione....

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.... to furnish under sub-section (1) of section 14, or (ii) reduce or waive the amount of minimum penalty imposable on a person under clause (iii) of sub-section (1), if he is satisfied that such person (a) in the case referred to in clause (i) of this sub-section has, prior to the issue of notice to him under sub-section (2) of section 14, voluntarily and in good faith, made full disclosure of....

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....he assessee has, without reasonable cause, failed to furnish the return and the assessee has become liable for penalty. The considerations for the Commissioner to waive the penalty are not as to whether there was or was not reasonable cause for late filing of the return, but, as the language of the section quoted above discloses, it is altogether on different considerations, whereas the WTO impose....