Law:

Section:

Section 18B, read with sections 18(2A) and 18(1)(a), of the Wealth-tax Act, 1957 - Penalty - Waiver or reduction of -Assessment years 1967-68 to 1969-70 - Assessee filed a petition under section 18B for waiver of penalty levied under section 18(1)(a) for assessment years 1967-68 to 1969-70- Commissioner dismissed petition on grounds (i) that assessee had not paid tax for relevant assessment years, and (ii) that section 18B was not applicable as it had come into force only on 1-10-1975 - Whether Commissioner's order deserved to be set aside with directions for fresh disposal of matter on ground that as per record, assesseehad actually paid tax in time and, even before section 18B came into force, Commissioner had power of waiving penalty in question by virtue of section 18(2A) - Held, yes FACTS The assessee filed a petition under section 18B for waiving the penalty levied under section 18(1)(a) for the assessment years 1967-68 to 1969-70. The Commissioner dismissed the petition on the grounds (i) that the assessee had not paid the wealth-tax for the relevant assessment years, and (ii) that section 18B was not applicable to the instant case, since it had come into force only on 1 -10-1975. On writ, challenging the order of the Commissioner, the assessee contended that the wealth-tax for the relevant assessment years had been paid in time and that the challans for the payment were available with him. HELD Even prior to the amendment inserting section 18B by the Taxation Laws (Amendment) Act, 1975, the waiver at the discretion of the Commissioner was provided for by virtue of section 18(2A). In view of the fact that the Commissioner had the power under section 18(2A) and the challans for the payment of wealth-tax for the assessment years in questions were available, the case deserved to be remanded to the Commissioner in order to pass a fresh order after giving an opportunity to the assessee to place his case. It was for the Commissioner to discuss and decide on the facts and in the circumstances of the case as to whether the assessee was entitled to the waiver of the penalty levied under section 18(1)(a ). The order passed by the Commissioner was, therefore, set…

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