1977 (12) TMI 50 - AT - Wealth-tax

Summary

The Appellate Tribunal ITAT Gauhati canceled penalties imposed on the assessee for the asst. yrs. 1965-66 to 1971-72 due to assessments being canceled by the WTO based on CBDT instructions and a Supreme Court decision. The appeals of the assessee are allowed, while the appeals of the Revenue are dismissed. (Case citation: 1977 (12) TMI 50 - ITAT GAUHATI)