TaxTMI 
TaxTMI 
1981 (11) TMI 13
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...., can ignore his recorded satisfaction to the statutory conditions embodied in s. 18B, while exercising discretion in that direction ? Shrimati Parkash Devi, petitioner, filed voluntary returns under the Act for assessment years 1970-71 to 1977-78. She took the anticipatory step of filing an application under s. 18B of the Act to the Commissioner on the assumption that failure, without reasonable cause, to furnish the returns of net wealth which she was required to furnish under subs. (1) of s. 14, would attract the penalty under s.: 18 ; for the returns which she filed voluntarily on April 22, 1978, she paid the full amount of the total tax due on the returned wealth. When the WTO framed assessment and created additional demands, these ....
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....rily and in good faith, made full and true disclosure of his net wealth, and (b) in the case referred to in clause (ii), has, prior to the detection by the Wealth-tax Officer, of the concealment of particulars of assets or of the inaccuracy of particulars furnished in respect of any asset or debt in respect of which the penalty is imposable, voluntarily and in good faith made full and true disclosure of such particulars, and also has co-operated in any inquiry relating to the assessment of his net wealth and has either paid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this Act in respect of the relevant assessment year ....... .." It is plain therefrom that....
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....naiah v. CIT, [1974] 95 ITR 435 (Mys) and Rasiklal Ranchhodbhai Patel v. CWT, [1980] 121 ITR 219 (Guj). That the Commissioner has to remain uninfluenced by extraneous factors like the assessee being an old assessee under the I.T. Act is well settled and the converse deprecated in the decisions of this court in Dr. Paramjit Singh Grewal v. CIT, [1980] 125 ITR 549 (P & H), Major Naranjan Singh v. CWT (C.W. P. No. 582 of 1980 decided by S. S. Kang J. on 28th April, 1981,reported in [1982] 138 ITR 88). Similar was the view of the Allahabad High Court in Kundan Lal Behari Lal v. CWT, [1975] 98 ITR 359. Precedents on that aspect need not be multiplied. All these are cases on the side of pre-satisfaction stage and do not squarely cover the point i....
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.... noting that as per the assessee's own showing as per letter dated April 15, 1978, addressed to Income-tax Officer, Distt. II(9), Jullundur, in connection with her income-tax proceedings in respect of assessment years 1971-72 to 1977-78, it was some time in September, 1976, that she came to know that voluntary returns under the Income-tax Act, had to be filed by her. In spite of her knowledge about her liability to file voluntary returns under the Income-tax Act, in respect of assessment years 1971-72 to 1977-78, she did not care to ascertain her liability under the Wealth-tax Act in respect of the above assessment years and in fact filed the returns as late as 22nd April, 1978. Having regard to the above facts and other circumstances, I ac....
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....der section 18(2A) has to bear in mind several factors such as the gravity of the default, the loss occasioned to the Revenue by the assessee the gravity of the default, the loss occasioned to the Revenue by the assessee not filing the return in time, and the extent of tax withheld. These factors are only illustrative but not exhaustive, just like in criminal cases judge while imposing a sentence on the accused who is found guilty of an offence takes into consideration several factors apart from the fact that he has committed the offence in question, the Commissioner should take into consideration all other relevant factors while reducing or waiving the penalty imposed or imposable under section 18(1)(a) of the Act. [section 18(2A) of the o....