1980 (2) TMI 127

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..... under s. 18(1)(a) of the WT Act in the respect of the asst. yrs. 1973-74 and 1974-75. 2. The returns of net wealth for the asst. yrs. 1973-74 and 1974-75 were due to be filed by the assessee on or before 31st July, 1973 and 31st July 1974, respectively, but these returns were filed on 22nd April 1975. For the delay in the submission of the returns of net wealth the WTO initiated penalty proceedi .....

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..... this process took considerable time. It was also submitted that, during this period, the assessee's wife was ill and she ultimately died in 1975. On the basis of the above facts it was submitted that the assessee was prevented by a reasonable cause in filing the returns of net wealth for the two years in question by the due dates. The WTO did not accept the assessee's explanation as satisfactory .....

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..... in filing the returns of net wealth. The main reasons attributed for the delay were (1) illness and subsequent death of assessee's wife, and (2) the employee Shri N.P. Nema who was looking after his Income-tax and Wealth-tax affairs, suddenly left the service in 1974. The learned counsel of the assessee also submitted that the returns for the earlier years and in subsequent years were filed by the .....

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