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2003 (6) TMI 14 - HC - Wealth-taxPenalty under section 18(1)(c) - "Whether the Appellate Tribunal is right in law and on facts in confirming the cancellation of the penalties levied by the Wealth-tax Officer under section 18(1)(c) of the Wealth-tax Act?" - we, therefore, cannot presume that the assessee had a mala fide intention to furnish inaccurate particulars. As mens rea is an essential ingredient of an offence and as both the appellate authorities have arrived at a finding that the assessee had no intention to furnish inaccurate particulars of the asset in question, we would not like to come to a different conclusion with regard to the intention of the assessee. - it cannot be said that the Tribunal had committed an error
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