9911796707
TMI Blog1983 (7) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... TO has erred in imposing the penalty of Rs. 1,510 u/s 18(1)(a) and the ld. AAC has wrongly confirmed the same. 2. The return of wealth was due to be filed in this case on 31st July, 1975 which was filed by the assessee on 31st March, 1976 resulting in a delay of 7 months. The WTO, therefore, levied a penalty of Rs.1,510 u/s 18(1)(a) of the WT Act. 3. On appeal before the AAC it was contended b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... obvious that there is nothing for the assessee to await the filing of the income tax return. With regard to the deposits lying with various parties, he observed that the deposits on which she is earning interest are known to her and, therefore, there is no justification for the assessee to file the return late. As against this order of the AAC the assessee is in appeal before us. 4. The ld. coun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er any consequential delays in the filing of the wealth tax return was for reasonable cause or not. The period of unreasonable delay in filing the assessee s wealth tax return must, therefore, be reckoned, for purposes of penalty, from the date of the filing of his income tax return. Relying on the aforesaid proposition of law, the ld. counsel for the assessee contended that the delay in filing th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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