1993 (2) TMI 60 - HC - Wealth-tax

Summary

The High Court of Gujarat quashed an order made under section 18B of the Wealth-tax Act, reducing interest and penalty by 50%. The court found that the respondent failed to provide sound reasons for not granting full waiver, violating the rule of audi alteram partem. The court allowed the application, stating the respondent must reconsider the matter following proper norms.