COMMISSIONER OF WEALTH TAX Vs. SUJATHA VENKATESWARAN

JUDGEMENT

(1.) THE question referred to us is as follows :

(2.) THE assessee is an individual and the concerned assessment year is 1984-85. Though the return under the Wealth-tax Act was due to be filed on June 30, 1984, the same was filed on March 24, 1986. Hence, action was initiated by the Assessing Officer under Section 18(1)(a) of the Act and while completing the assessment proceedings, a penalty of Rs. 62,360 was ordered. THE assessee was aggrieved and preferred the appeal before the Commissioner of Wealth-tax (Appeals), who while upholding the penalty, remitted the matter to the Assessing Officer to revise the quantum of penalty with reference to the net wealth after making a fresh assessment as per the directions of the Tribunal in W. T. A. No. 797 (Mds.) of 1989, dated May 18, 1990. THE Revenue therefore carried the matter to the Tribunal and the Tribunal confirmed the order of the Commissioner of Wealth-tax (Appeals), whereby the Commissioner of Wealth-tax (Appeals) had upheld the levy of penalty and the remittance only for the quantum in pursuance of the fresh assessment framed.