1982 (7) TMI 147

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 3-74 and 1974-75 u/s 18(1) (a) of the WT Act. 2. After hearing both the sides, we find that the authorities below erred in imposing the penalties upon the assessee. The assessee filed the return of net wealth for the asst. yrs. 1973-74 and 1974-75 respectively on 12th November 1973 and 30th July 1974. These returns were signed by one Shri Dalip Singh as Special Power of Attorney Holder. However .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dalip Singh, the assessee had bona fide belief that the returns had been validly submitted. However, when the mistake was discovered the assessee hastened to file returns signed by the Karta simultaneously for both the years on 28th March 1977. The delay, therefore, was due to reasonable cause for which no penalty could be levied. 4. On the above set of facts, the WTO was not satisfied that the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . That facts stated above in fact show that the assessee made conscious efforts to comply with the provisions of law. This is clear from the returns having been filed within time, albeit with the signature of the Attorney only. The assessee also voluntarily filed the returns on 28th March 1977 when the mistake was discovered. In the case of the assessee in WTA Nos. 238, 239 and 240 of 1975-76, IT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X