AMAR NATH Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THIS is a petition for quashing order dated 15.3.1982 (Annexure P6) passed by Commissioner of Wealth-Tax, Jullundur (respondent No. 1) declining the petitioner's prayer for waiver of penalty in terms of Section 18-B of the Wealth-tax Act, 1957 (for short, the Act') and to restrain the Income- tax Officer, Special Circle-I, Jullundur (respondent no.2) from taking recovery proceedings in pursuance of notice dated 1.3.1982 (Annexure P7).

(2.) THE petitioner is a wealth-tax assessee. He filed returns for the assessment years 1967-68 to 1974-85 under Section 14(2) of the Act after due dates. THE Wealth-tax Officer made assessment and created demand varying from Rs. 520/- to Rs. 33,739/- for different years. He also levied penalty under Section 18(1)(a) of the Act. THE details of the returns filed by the petitioner and the assessment made by the Wealth-tax Officer for different years are as under:- <FRM>JUDGEMENT_247_ITR261_2003Html1.htm</FRM>

(3.) RESPONDENT No. 1 also rejected the petitioner's plea that on account of failure of the Wealth-tax Officer to initiate penalty proceedings under Section 18(2)(c), he is enti tied to waiver of penalty and observed as under:-