COMMISSIONER OF WEALTH TAX Vs. KALYANMAL KACHARJI

JUDGEMENT

(1.) THE order in this case shall also dispose of M.C.C. Nos. 49 to 56 all of 1981. THEse are all applications under s. 27(3) of the WT Act, 1957 (hereinafter referred to as `the Act')

(2.) THE materials facts giving to these application briefly are as follows : For the asst. yrs. 1967-68 to 1975-76, the asessee had made voluntary disclosure of income and had filed on 31st Dec., 1975, return of total net wealth for the assessment years in question. THE WTO initiated proceedings under s. 18(1)(a) of the Act as there was delay in filing the returns. THE assessee contended before the WTO that his case was covered by the immunity provided under s. 15 of the Voluntary Disclosure of Income and Wealth Act, 1975. That contention was rejected by the WTO and penalties were levied on the assessee. THE CIT (A) held that immunity was available to the assessee under the Voluntary Disclosure Act and in this view of the matter, the orders of penalty passed by the WTO were set aside. On further appeal, the Tribunal held that in the facts and circumstances of the case, levy of penalty was not just and proper. THE Tribunal further held that the assessee who had made voluntary disclosure of income under the Voluntary Disclosure Act was entitled to immunity under the provisions of s. 15(1) of the Voluntary Disclosure Act. In this view of the matter, the Tribunal dismissed the appeal preferred by the Department. Aggrieved by the order passed by the Tribunal, the Department sought a reference but the applications filed by the Department in that behalf were rejected. Hence, the Department has filed these applications.