1974 (9) TMI 2 - SC - Wealth-tax

Waiver of Penalty - returns were filed before notice of reassessment were served - word issue in s. 18(2A) is served as the notice cannot be said to be issued unless it was served on him and the assessee who made full disclosure of his wealth - issue of notice u/s 17 was entitled to the benefit of s. 18(2A)

Summary

The Supreme Court dismissed the petition as the word "issued" in section 18(2A) of the Wealth-tax Act was interpreted to mean "served," based on previous court decisions. The court found that any other interpretation would lead to unjust results. The petition was dismissed.