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2002 (10) TMI 23 - DELHI HIGH COURT"1. Whether, Tribunal was correct in law in holding that there was no fraud or wilful neglect on the part of the assessee in spite of the fact that in his wealth-tax return filed on March 31, 1974, he had shown his total wealth of Rs. 1,88,775 under the head 'Movable property' and he had not disclosed the value of his immovable property? 2. Whether, Tribunal was correct in law in cancelling the penalty of Rs. 4,10,000 imposed under section 18(1)(c) of the Wealth-tax Act, 1957, which had been upheld by the Commissioner of Wealth-tax (Appeals)?" - we find that the findings recorded by the Tribunal, which are essentially findings of fact, cannot be said to be irrational or without any basis, as is sought to be contended by learned counsel for the Revenue. In our opinion, no question of law arises from the said order and the Tribunal was justified in rejecting the Revenue's request for reference to this court.
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