1982 (7) TMI 208 - AT - Wealth-tax

Summary

The ITAT Madras-C upheld the cancellation of penalties imposed under section 18(1)(a) of the Wealth Tax Act by the AAC. The appeals by the Revenue were dismissed as the delay in filing the Wealth Tax return was considered reasonable due to the filing of the Income Tax return, in line with the Madras High Court decision and statutory provisions. The appeals were dismissed. (Case: 1982 (7) TMI 208 - ITAT MADRAS-C)