1988 (9) TMI 47

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..... the order of the Wealth-tax Commissioner dated July 19, 1983, whereby he rejected the application of the petitioner seeking waiver under section 18B(1)(i) of the Wealth-tax Act, 1957. Penalty was imposed against the petitioner as returns for the assessment years 1964-65 to 1968-69 were not filed in time. Thereupon, the petitioner made an application under section 18B of the Act seeking waiver on .....

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..... he income-tax returns had been filed on July 18, 1974. The income-tax returns having been filed in July 1974, the question of having paid income-tax regularly from 1970-71 could not arise. Next comes the question whether the requirements of section 18B(1)(a) have been satisfied. It is not controverted that returns of wealth were filed by the petitioner in the year 1974 when he attained majority a .....

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