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2016 (2) TMI 506 - AT - Wealth-taxLevy of penalty u/s 18(1)(c) of Wealth Tax Act, 1957 - assessee demonstrated before AO that assessee is a non-technical person and solely dependent upon the advice of his accountant in respect of technical matters, accordingly, assessee was under the impression that liability for filing of Wealth Tax return would be looked after by his accountant. As the assessee received the notice for filing wealth tax return, he immediately acted and reacted accordingly and paid the demand of tax on time. - Held that:- it is clear that there was sufficient cause which prevented the assessee to pay wealth tax in the wealth tax return. Therefore, in the interest of natural justice, we delete the penalty imposed by Assessing Officer and confirmed by Ld. CWT(A). - Decided in favor of assessee.
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