1980 (2) TMI 127 - AT - Wealth-tax

Summary

The appeals were filed by the assessee against penalties imposed by the WTO under s. 18(1)(a) of the WT Act for delay in filing net wealth returns for asst. yrs. 1973-74 and 1974-75. The AAC canceled the penalties citing reasonable causes like illness and death of the assessee's wife and sudden departure of the employee handling tax affairs. The ITAT upheld the AAC's decision, dismissing the departmental appeals. (Case: Appellate Tribunal ITAT JABALPUR, Citation: 1980 (2) TMI 127 - ITAT JABALPUR)