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2014 (1) TMI 461 - HC - Wealth-taxJurisdiction under Section 18-B - Imposition of penalty - Deposit of wealth tax after due date - Held that:- A perusal of Section 18B of the 1957 Act would reveal that it commences with a non-obstante clause thereby indicating that while considering a prayer for reduction/waiver of penalty, a Commissioner shall consider such factors as are enumerated in Section 18-B of the 1957 Act and no other factor. A perusal of the impugned order, reveals that factors enumerated in Section 18-B of the 1957 Act have not been considered - Therefore, matter is remitted back - Decided in favour of assessee.
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