1990 (9) TMI 45 - HC - Wealth-tax

Summary

The High Court of Orissa upheld the imposition of penalty under section 18(1)(a) of the Wealth-tax Act for the assessment year 1972-73. The court found that the assessee did not file a return earlier but described the late-filed return as a revised one, leading to the penalty being sustained. The court affirmed that the penalty was correct in law, even after the assessee's death. The judgment was agreed upon by both Judges K. C. Jagadeb Roy and S. C. Mohapatra.