1977 (6) TMI 49 - AT - Wealth-tax

Summary

The appeal was against the imposition of penalty under s. 18(1)(a) of the WT Act, 1957 for delay in filing the return of income. The Appellate Tribunal cancelled the penalty, finding that there was a reasonable cause for the delay as the assessee had valid reasons such as obtaining a valuer's report and facing non-availability of return forms. The appeal was allowed. (Case: 1977 (6) TMI 49 - ITAT GAUHATI)