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TMI Blog2014 (1) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... ated:- 2-8-2013 - Rajive Bhalla And Dr. Bharat Bhushan Parsoon,JJ. For the Petitioner : Shri Rajesh Garg, Advocate For the Respondent : Mrs. Savita Saxena, Advocate ORDER Rajive Bhalla , J. (Oral): The petitioner, lays challenge to order dated 22.2.1988 (Annexure P-2) passed by the Commissioner of Wealth Tax, Patiala, declining to exercise jurisdiction under Section 18-B of the Wealth Tax Act, 1957 (for short, the 1957 Act). Counsel for the petitioner submits that the petitioner was required to file wealth tax returns for assessment years, 1977 to 1985. The returns were filed collectively and voluntarily on 18.11.1985, without any notice from the Department. The Assessing Officer passed orders dated 30.5.1986 imposi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uired to confine his consideration to parameters set out in Section 18-B of the 1957 Act, which reads as under:- "18B. Power to reduce or waive penalty in certain cases. - (1) Notwithstanding anything containedin this Act, the 2 [3 [*****] Commissioner] may, inhisdiscretion, whether onhis own motion or otherwise, - (i) 4 [*****] (ii) reduce or waive the amount of penalty imposed or imposable on a person underclause (iii) of sub-section (1) of section 18, ithe is satisfied that such person, - (a)5 [*****] (b) in the case referred to in clause (ii), has, prior to the detection by the 6 [AssessingOfficer], of the concealment of particulars of assets or of the inaccuracy ofparticulars furnished in respect of any asset or debt in res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he shall not be entitled to any relief under this section in relation toany other assessment year at any time after the making of such order: 10 [Providedthat 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 snail be entitled tofurther relief only once in relation to other assessment year or years if hemakes an application to the wealth-tax authority referred to in sub-section (4) at any time before the 1st day of April, 1992]. (4) Without prejudice to the powers conferred on himby any other provision of this Act, the 11 [12 [*****]Commissioner] may, on an application made in this behalf by an assessee, andafter recording his reasons for so doing, reduce or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reads as follows:- On the basis of above facts, the assessee has claimed wrong exemption regarding one bigha of land given on rent to M/s Gokal Steel Indl. Barnala. I therefore, hold that the conditions mentioned in Section 18-B of the Wealth Tax Act are not fulfilled, the petition for all the nine assessment years is dismissed. In the result, the petition is dismissed. In this view of the matter, we allow the writ petition, set aside the impugned order and remit the matter to the Commissioner Wealth Tax, Patiala to decide the petition filed under Section 18B of the 1957 Act afresh, in accordance with law. Parties are directed to appear before the Commissioner, Wealth Tax, Patiala on 9.9.2013. - - TaxTMI - TMITax - Wealth tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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