1991 (9) TMI 58

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..... ow that it was With or without reasonable cause, upon the assessee or the Revenue ? Herein lies the controversy raised. This matter arises under the Wealth-tax Act, 1957, in the context of the provisions of section 18(1)(a) thereof. The due date for the filing of the return for the assessment year 1969-70 was June 30, 1969. It was not, however, filed by the assessee till March 23, 1970, whereupo .....

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..... the case, the Tribunal was right in law in holding that penalty is leviable under section 18(1)(a) of the Wealth-tax Act ?" The provisions of section 18(1)(a) of the Wealth-tax Act read as under : "(1) If the Wealth-tax Officer, Appellate Assistant Commissioner, Commissioner (Appeals), Commissioner or Appellate Tribunal in the course of any proceedings under this Act is satisfied that any pers .....

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..... venue to show that the failure to file the return in time was without "reasonable cause". It was held that it is only when the assessee shows cause that an opinion can be formed regarding its reasonableness or otherwise. Liability for payment of penalty, it was further observed, arises immediately upon the failure of the assessee to furnish the return within the time prescribed and, consequently, .....

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