9911796707
TMI Blog2013 (9) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act. We have heard counsel for the respondent. Counsel for the respondent submits that the impugned order is legal and valid and does not suffer from any error of jurisdiction or of law. The Commissioner has rightly recorded that the facts on record do not indicate full and true disclosure. The writ petition may, therefore, be dismissed. The question that arises for adjudication is: "Whether the Commissioner of Wealth Tax has exercised jurisdiction in accordance with parameters set out in Section 18B of the Wealth Tax Act, 1957?" Section 18B of the Act reads as follows: "18B (Power to reduce or waive penalty in certain cases. (1) Notwithstanding anything contained in this Act, the Commissioner] may, in his discretion, whether on hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the relevant assessment years, exceeds five hundred thousand rupees, no order reducing or waiving the penalty under sub-section (1) shall be made by [the Commissioner except with the previous approval of the Chief Commissioner or Director General, as the case may be]. (3) Where an order has been made under sub-section (1) in favour of any person, whether such order relates to one or more assessment years, he shall not be entitled to any relief under this section in relation to any other assessment year at any time after the making of such order : (Provided that where an order has been made in favour of any person under sub-section (1) on or before the 24th day of July, 1991, such person shall be entitled to further relief only once in rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to entertain an application for reducing/waiver of penalty in accordance with factors detailed in Section 18B and requires the Commissioner to pass a speaking order recording whether the facts pleaded fall within the factors enumerated in Section 18B. Thus if the Commissioner were to refer to and reject the application on grounds that had led to imposition of penalty, it would, in essence, foreclose the right conferred upon an assessee under Section 18B of the 1957 Act. A perusal of the impugned order reveals that the learned Commissioner has passed a nonspeaking order. A relevant part of the order reads as follows: "The facts on record do not signal towards full and true disclosure". The order does not indicate the facts that do not sig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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