Penalty u/s 18(1)(c) - wealth tax - For claiming an exemption ...

Wealth-tax

August 23, 2013

Penalty u/s 18(1)(c) - wealth tax - For claiming an exemption assesse had to include the asset in the return - Without including the same in the return filed it cannot claim exemption - Claims of exemption/deduction/rebate were not to be decided by the assesses - it was the job of the AO to entertain or rejects such claim as per the provisions of the Act - penalty confirmed - AT

View Source

← Previous Next →

Penalty u/s 18(1)(c) - wealth tax - For claiming an exemption ...

Wealth-tax

August 23, 2013

You may also like:

Non filing of return of wealth - Penalty levied u/s 18(1)(c) of the Wealth Tax Act - third member confirms that, penalty be imposed against the assessee.

Exemption from wealth-tax in respect of assets specified in declaration - THE INCOME DECLARATION SCHEME, 2016

Concealment of wealth - assessee has not filed wealth tax return u/s.14 - penalty proceedings u/s.18(1)(c) - The component of wealth based on the admission of return of...

Penalty u/s 18(1)(c) of Wealth tax Act - Defective notice - AO has not struck out the irrelevant portion of the notice - the penalty proceedings u/s.18(1)(c) of the...

Wealth-tax - any property in the nature of commercial establishments or complexes is excluded from the definition of assets liable for wealth tax - AT

Wealth tax assessment - Period of limitation - Order was passed beyond period of one year as required u/s 17A(2) of the WT Act, and consequently the penalty proceedings...

Penalty u/s 18(1)(c) of wealth tax act - Had the assessee been put to notice with respect to explanation(4) of section 18(1)(c) of the Act and consequently given...

Exclusion from wealth tax - value of the assets used for the purpose of earning lease rent income - decision is the tribunal treating the same is business income is not wrong - HC

Valuation of property - Section 2(ea) of Wealth Tax Act, 1957 - whether security taken for lease of asset would be treated as debt - held No - AT

Business premises let out - Whether assessable as assets under section 2(ea) of Wealth tax or not - premises were not covered by exclusions provided under section 2(ea)(i) - AT

Quick Updates: