PRITHVI SINGH Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (hereinafter referred as " the Appellate Tribunal"), has referred the following two questions to this court for its opinion, as arising out of its order dated November 19, 1973.

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal is right in holding that penalty is leviable on the assessee even though returns of wealth have not been filed by him ? "

(3.) AS regards the first question, it is not in dispute that the assessee did not file any return of his wealth in respect of the three assessment years, namely, 1965-66,1967-68 and 1968-69, not only on the due date but at any time (thereafter). According to Sub-section (1) of Section 14 of the Act, every person, whose net wealth is assessable under the Act, and was liable to payment of wealth-tax on the valuation date, was required to furnish to the WTO the return of his net wealth before 30th day of June, of the corresponding assessment year. Thus, the return of wealth in respect of the three assessment years 1965-66, 1967-68 and 1968-69 were due to be filed on June 30, 1965, June 30, 1967 and June 30, 1968, respectively. Prior to its amendment by the Finance Act of 1969, the relevant provisions of Section 18(1) of the Act read as under: