1988 (1) TMI 5 - HC - Wealth-tax

Summary

The High Court of Madhya Pradesh upheld the penalties imposed by the Wealth-tax Officer for late filing of returns by the assessee for the assessment years 1971-72 and 1972-73. The court found that the assessee's explanation was unacceptable and that he was given a reasonable opportunity to be heard before the penalties were imposed. The court ruled in favor of the Revenue and against the assessee.