Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (10) TMI 26 - ITAT KOLKATA

2015 (10) TMI 26 - ITAT KOLKATA - TMI - Levy of penalty u/s 18(1)(c) of the Wealth Tax Act 1957 - assessee had shown motor car in the depreciation schedule but did not file the wealth tax - Held that:- Assessee has filed returns prior to notices issued u/s. 17 of the Act. We noted that the return in each of the A.Ys has been filed by the assessee subsequent to due date and return filed by the assessee cannot even regarded to be belated return as per the provision of Wealth Tax Act. In view of th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

dent : Shri K L Kanak, JCIT, SR-DR ORDER Per P K Bansal, Accountant Member Since all four appeals filed by the assessee involved common issue as well as common ground, therefore, all these appeals are decided by this common order and all these appeals arising out common order of Commissioner of Income Tax (Appeals) Central-I, Kolkata dated 10.09.2013 for the assessment years 2006-07 to 2009-10. 2. The only common issue in all these appeals relate to the levy of penalty u/s 18(1)© of the Wea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

06-07 Rs.56,18,300/- Rs.56,18,000/- Rs.26,304/- 2007-08 Rs.61,95,400/- Rs.61,95,400/- Rs.24,388/- 2008-09 Rs.52,31,800/- Rs.52,31,800/- Rs.14,920/- 2009-10 Rs.60,24,700/- Rs.60,24,700/- Rs.12,656/- The AO issued show cause notice to the assessee and ultimately levied of penalty u/s. 18(1)© of the Act. The assessee explained that he had filed the wealth tax returns prior to the issue of the said notice u/s. 17 of the Act i.e. on12-09-2011. The AO took the view that return filed by the assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version