COMMISSIONER OF WEALTH TAX Vs. SHRIKANT RAMNARAYAN MOR

JUDGEMENT

(1.) THE assessee was assessed to wealth-tax for the asst. yr. 1966-67. Though the assessee ought to have filed a return by 30th June, 1966, he did not file any return under s. 14(1) of the WT Act, 1957, in spite of time being granted to him from time to time up to 31st Aug., 1966. A notice under s. 17 r/w s. 14(2) of the Act was served on the assessee on 15th Dec., 1970, and an assessment order under s. 16(5) was made on 27th Dec., 1971 (sic). A notice to show cause why penalty should not be imposed under s. 18(1)(a) of the Act was issued on 27th Feb., 1971. It may be pointed out that the material part of s. 18 which dealt with penalty as it was in force w.e.f. 1st April, 1965, having been so introduced by s. 18 of the WT (Amend.) Act, 1964, read as follows :