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2006 (8) TMI 134 - HC - Wealth-taxImposition of penalty under section 18(1)(c) – Concealment of Wealth - applying the strict construction of penalty provisions contained in clause (c) of sub-section (1) of section 18 of the Act, we find that prior to the amendment in Explanation 3 by the Director Tax Laws (Amendment) Act, 1987, with effect from April 1, 1989, in a case where the person who has previously been assessed under the Act does not file any return in response to the notice or even where time for filing the return has expired has not filed any return there cannot be any concealment for which penalty provision can be imposed. - Held that in the present case the respondent-assessee has not concealed the particulars of his wealth for which no penalty under clause (c) of sub-section (1) of section 18 of the Act is exigible.
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