1976 (2) TMI 55 - AT - Wealth-tax

Summary

The Appellate Tribunal ITAT DELHI heard a case involving penalty proceedings under section 18(1)(a) for late submission of wealth-tax returns by the HUF of Shri R.D. Varshney for asst. yrs. 1964-65 to 1966-67. The Tribunal upheld the penalties imposed by the WTO due to the wealth exceeding the minimum assessable limit.