Law:

Section:

Section 18B of the Wealth-tax Act, 1957 - Penalty - Waiver or reduction of - Assessment years 1973-74, 1974-75, 1976-77 and 1978-79 to 1982-83 - For assessment years 1973-74, 1974-75 and 1976-77, assessee filed returns belatedly on 20-10-1978 - For assessment years 1978-79 to 1982-83 also assessee filed returns belatedly sometime in 1981 and 1983 - WTO imposed penalties upon assessee under section 18(1)(a) for all these years - Assessee made a single application under section 18B before Commissioner to waive penalties imposed upon him under section 18(1)(a) - Commissioner waived penalties for assessment years 1973-74, 1974-75 and 1976-77 holding that assessee's plea of good faith was acceptable, but refused to waive penalties with respect to other years in question, holding that since assessee filed returns on different dates, there was no room for inferring good faith - Whether distinction made by Commissioner was not justified and, therefore, matter required re-consideration by Commissioner - Held, yes FACTS For the assessment years 1973-74, 1974-75 and 1976-77, the assessee filed the returns belatedly on 20-10-1978. For the assessment years 1978-79 to 1982-83 also the assessee filed the returns belatedly sometime in 1981 and 1983. The WTO imposed penalties upon the assessee under section 18(1)(a) for all these years. The assessee made a single application under section 18B to waive the penalties imposed upon him under section 18(1)(a) . The Commissioner found that the assessee's plea of good faith was acceptable with respect to the assessment years 1973-74 to 1976-77, but not with respect to the other years. Accordingly, he waived the penalties for the assessment years 1973-74 to 1976-77, but refused to waive penalties with respect to the other years in question. He held (i) that this was. not a case where the assessee filed the returns for all the concerned assessment years at once and in one case, it could be presumed that the assessee might return to the path of rectitude, (ii) from the fact that the assessee filed his returns on different dates for these assessment years it was evident that the assessee was aware of his obligation to file the return…

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