1983 (7) TMI 107

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..... contests the appeal on the grounds that the WTO has erred in imposing the penalty of Rs. 1,510 u/s 18(1)(a) and the ld. AAC has wrongly confirmed the same. 2. The return of wealth was due to be filed in this case on 31st July, 1975 which was filed by the assessee on 31st March, 1976 resulting in a delay of 7 months. The WTO, therefore, levied a penalty of Rs.1,510 u/s 18(1)(a) of the WT Act. 3. .....

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..... observed that looking to these facts it is obvious that there is nothing for the assessee to await the filing of the income tax return. With regard to the deposits lying with various parties, he observed that the deposits on which she is earning interest are known to her and, therefore, there is no justification for the assessee to file the return late. As against this order of the AAC the assess .....

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..... aside as irrelevant while considering whether any consequential delays in the filing of the wealth tax return was for reasonable cause or not. The period of unreasonable delay in filing the assessee's wealth tax return must, therefore, be reckoned, for purposes of penalty, from the date of the filing of his income tax return. Relying on the aforesaid proposition of law, the ld. counsel for the ass .....

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