Jurisdiction u/s 18B - Power to reduce or waive penalty - Whether the Commissioner of Wealth Tax had exercised jurisdiction in accordance with parameters set out in Section 18B of the Wealth Tax Act - Held that - A perusal of the order revealed that the learned Commissioner had passed a nonspeaking order - The order does not indicate the facts that do not signal towards full and true disclosure - No other reason had been assigned whether by reference to Section 18B of the 1957 Act to the facts pleaded by the petitioner. Section 18B empowered the Commissioner of Wealth Tax to entertain an application for reducing/waiver of penalty in accordance with factors detailed in Section 18B and required the Commissioner to pass a speaking order recording whether the facts pleaded fall within the factors enumerated in Section 18B - The matter was remitted to the Commissioner of Wealth Tax, Jalandhar to decide the petition under Section 18B of the 1957 Act afresh order set aside Decided in favour of Petitioner............................... Wealth tax - Case Law
↧