1978 (10) TMI 64 - AT - Wealth-tax

Summary

The appeal was against the imposition of a penalty under section 18(1)(a) of the Wealth Tax Act for a delay in submitting the return of net wealth. The Appellate Tribunal canceled the penalty, stating that the delay of 4 months was justified due to the need to gather information for filing the return. The appeal was allowed. [Case: Appellate Tribunal ITAT CHANDIGARH, Citation: 1978 (10) TMI 64]