KIRITKUMAR K. SHROFF Vs. COMMISSIONER OF WEALTH-TAX

JUDGEMENT

(1.) THIS petition challenges the order under Section 18B of the Wealth -tax Act, 1957 ('the Act'), passed by the respondent -Commissioner of Wealth -tax, Surat, on January 27, 1993 (exhibit 'F').

(2.) THE petitioner, one of the executors of the estate of the late Shri Dalichand V. Shroff, filed voluntary returns of wealth for the assessment years 1973 -74 to 1976 -77 on various dates which appear in the Table set out hereunder. The petitioner paid wealth -tax payable under Section 15B of the Act at the time of filing of the returns. The Wealth -tax Officer passed assessment orders under Section 16(3) of the Act for all the years accepting the wealth returned by the petitioner. The following table gives the year -wise details :

(3.) MR . M. J. Shah, the learned advocate for the petitioner, has pointed out that the petitioner had fulfilled all the conditions for becoming entitled to waiver of the penalties imposed. That the respondent had made the impugned order based on extraneous reasons and considered factors which are not forming part of Section 18B of the Act. He invited attention to the statement of wealth, assessment orders, penalty orders and application made under Section 18B of the Act before the respondent, to submit that the petitioner had done everything that was required to be done and complied with all statutory requirements. He also invited attention to the order made by the Appellate Assistant Commissioner on April 25, 1985 (exhibit G), relating to the assessment years 1968 -69 to 1972 -73, whereby the appellate authority had deleted similar penalties levied under Section 18(1)(a) of the Act accepting the explanation tendered by the petitioner. He, therefore, urged that the impugned order made by the respondent was required to be quashed and set aside, and as held by this court in the case of Indramohan P. Arora v. CIT/CWT 0043/1996 : [1997]227ITR30(Guj) , the matter be finally decided over here and the penalties waived for each of the years under consideration.