1987 (1) TMI 177 - AT - Wealth-tax

Summary

The Appellate Tribunal ITAT Delhi-E overturned the penalty imposed on the assessee for filing a belated wealth tax return, citing reasonable cause due to valuation issues. The Tribunal deleted the penalty, stating that the belated filing was justified. The appeal was successful. (Case citation: 1987 (1) TMI 177 - ITAT DELHI-E)