Judgment Search Results Home > Cases Phrase: wealth tax act 1957 section 35b failure to furnish returns of net wealth Page 1 of about 465 results (0.120 seconds)

V.G. Santhosham Vs. V. Raghavan, Assistant Commissioner

Court : Chennai

Reported in : [1994]206ITR605(Mad)

..... notice was issued to the accused to show cause why prosecution proceedings under section 35b of the wealth-tax act, 1957, should not be initiated for his wilful failure to furnish the return of wealth for the assessment year 1975-76. ..... on the ground of wilful failure, the accused is liable to be punished under section 35b of the wealth-tax act, 1957. 4. mr. r. v. ..... he has committed an offence punishable under section 35b of the wealth-tax act, 1957. ..... 71 of 1989 under section 35b of the wealth-tax act, 1957. ..... notice was issued under section 17a of the wealth-tax act on march 20, 1982, calling upon the accused to file the return of wealth within 35 days of the service of notice. ..... for the assessment year 1975-76, the return of wealth under section 14(1) of the wealth-tax act was due on july 31, 1975. ..... notices under section 16(4) of the wealth-tax act were issued on august 31, 1982, and september 2, 1982, calling upon the accused to file his return of wealth. ..... easwar, learned counsel appearing for the petitioner, would contend that there was no wilful failure in submitting the return of wealth and hence section 35b of the act which provides for punishment for 'wilful failure' is not attracted. ..... a fresh notice under section 16(4) of the wealth-tax act was issued posting the case on february 14, 1986. ..... in view of the default on the part of the accused, the assessment was completed on march 13, 1986, under section 16(5) of the wealth-tax act estimating the net wealth at rs. .....

Jagat Singh Vs. Wealth-tax Officer

Court : Delhi

Reported in : ILR1990Delhi547; [1990]185ITR242(Delhi)

..... four complaints against jagat singh, petitioner, in four criminal revision petitions and four complaints against jai singh, petitioner, in the other four criminal revision petitions, have been brought by the wealth-tax officer for their prosecution for offences punishable under section 35b of the wealth-tax act, 1957, pertaining to their willfully not filing wealth-tax returns in due time for different assessment years. ..... a perusal of the aforesaid provisions of the statute makes it very clear that in case of the return is not willfully filed within the due time, the person would be deemed to have committed the offence under section 35b but in case the return is furnished by him before the expiry of the assessment year, then such a person would not be proceeded against under this section for failure to furnish the return in due time fixed in sub-section (1) of section 14 of the act. ..... section 35b lays down that if a person willfully fails to furnish in due time the return of his net wealth which he is required to furnish under sub-section (1) of section 14 or by notice given under sub-section (2) of section 14... ..... provided that a person shall not be proceeded against under this section for failure to furnish in due time the return of net wealth under sub-section (1) of section 14... .....

T.K. Roy, Vs. Commissioner of Wealth-tax

Court : Guwahati

..... under section 35b of the act, wilful failure to furnish, in due time, the return of net wealth which a person is required to furnish under sub-section (1) of section 14 or by notice given under sub-section (2) of section 14 of the act has, inter alia, been made punishable.24. ..... tribunal in the course of any proceedings under this act is satisfied that any person-- (a) has without reasonable cause failed to furnish the return of his net wealth which he is required to furnish under sub-section (1) or subsection (2) of section 14 or section 17 or has without reasonable cause failed to furnish it within the time allowed and in the manner required; or......he or it may, by order in writing direct that such person shall pay by way of penalty-- (i) in the case referred to in clause (a), in addition to the amount of wealth-tax payable by him, a sum not exceeding one ..... act', 1957 (hereinafter called 'the act'), to furnish to the wealth-tax officer (hereinafter called 'w.t.o. ..... . these three references by the tribunal under section 27(1) of the wealth-tax act, 1957, hereinafter referred to as the act, are being disposed of by this common judgment as the question of law arising in them are similar.62 ..... act, 1957, by the income-tax tribunal, gauhati, in which a common question of law is involved, may be disposed of by this common judgment.36. .....

Cit Vs. Bisauli Tractors

Court : Allahabad

Reported in : (2008)217CTR(All)558; [2008]299ITR219(All)

..... mention here that in case where the returns are not being filed, there is unanimous judicial view that no penalty can be imposed for concealment of income and that is why the parliament had to make suitable amendment in the penalty provision by inserting explanation 3 to section 271 of the act and explanation 3 to section 18 of the wealth tax act, 1957.8. ..... [1961]41itr125(kar) the mysore high court has held as follows:what was urged before us was that in a case where an assessee has furnished no return at all before the income tax officer, it should be presumed for the purposes of section 28(1)(b) that he has furnished a return of his income intimating the income tax officer that his income is nil it seems to me that the language of section 28(1) does not admit of any such construction since the clear requirement of the provisions of this sub ..... clause (a) of section 15a(1) deals with the failure of the assessee to furnish the return of the turnover, which he is required to furnish under section 7 or the failure of the assessee to furnish it within the time allowed or in the ..... failure to get accounts audited.if any person fails to get his accounts audited in respect of any previous year or years relevant to an assessment year or furnish a report of such audit as required under section 44ab the assessing officer may direct that such person shall pay, by way of penalty, a sum equal to one half per cent of the total sales, turnover or gross receipts, as the case may be, in business, or .....

Hyderabad Vanaspathi Ltd. and ors. Vs. Registrar of Companies and ors.

Court : Andhra Pradesh

Reported in : [1986]59CompCas654(AP)

..... [1977]108itr787(ap) this court also has held that 'the default in filing a return before the due date under section 14(1) of the wealth-tax act, 1957, is a completed default and not a continuing default.' 16 ..... case, the supreme court held that the failure to file a return of wealth-tax under section 14(1) , on or before the prescribed date , was not a continuing default and penalty alone has to be computed for that period in accordance with section 18(1)(a) of the wealth-tax act. 15 ..... . the supreme court in that case held that regulation 3 read with section 66 of the mines act makes failure to furnish annual returns for the preceding year by the 21st of january of the succeeding ..... he convicted the accused under rule 11 of the deposits rules and sentenced each of them to pay a fine of rs.200, made up of a fine of rs.100 for failure to file the return of deposit within the prescribed time and a further fine of rs.100 for the period from july 1, 1979, to november 12, 1980, being the date of the filing of the ..... to which these rules apply, shall on or before the 30th day of june of every year, file with the registrar, a return in the form annexed to these rules and furnishing the information contained therein as on the 31st day of march of that year (duly certified by the auditor of the company) ..... mine concerned would be guilty of an offence if he continues to carry on the mine without furnishing the returns or that the offence continues until the requirement of regulation 3 is complied with .....

Smt. Harbans Kaur Etc. Vs. Commissioner of Wealth-tax, Jullundur

Court : Supreme Court of India

Reported in : AIR1997SC973; (1997)2CALLT82(SC); [1997]224ITR418(SC); JT1997(1)SC471; 1997(1)SCALE284; (1997)2SCC567; [1997]1SCR184

..... appellants in these appeals were liable to penalty under section 18 of the wealth-tax act, 1957, (for short the 'act'), for failure to file the returns in respect of the assessment years 1970-71, 1971-72, 1972-73, 1973-74, 1974-75 and 1975-76. ..... the commissioner of wealth-tax (the 'commissioner' for short) found that as the appellants have complied with the conditions stipulated in section 18b of the act they are entitled to the benefit of the new provision. ..... as per the sub-section if the wealth-tax officer, appellate assistant commissioner or appellate tribunal in the course of any proceedings under the act is satisfied that any person has, without reasonable cause, failed to furnish the returns which he is required to furnish or has without reasonable cause failed to furnish within the time allowed or without reasonable cause failed to comply with a notice under section 16(2) or (4), or has concealed the particulars of any assets or furnished inaccurate particulars of any assets or debts such officer may direct that ..... section 18b confers power on the commissioner to reduce or waive such penalty in certain contingencies, if he is satisfied that such person has made full and true disclosure of his net wealth and has also co-operated in any enquiry relating to the assessment of his net wealth and has either paid or made satisfactory arrangement for the payment of any tax or interest payable in consequence of an order passed under the act.5. .....

Dilip N. Shroff Karta of N.D. Shroff Vs. Joint Commissioner of Income ...

Court : Supreme Court of India

Reported in : (2007)210CTR(SC)228; [2007]291ITR519(SC); 2007(8)SCALE256; (2007)6SCC329

..... on the other hand, it has resulted in unwarranted harassment to the taxpayers, and too much of paper work caused by indiscriminate initiation of penalty proceedings and consequent appeals.we recommend that explanation to clause (c) of sub-section (1) of section 271 of the income-tax act, 1961, and also explanation i to clause (c) of sub-section (1) of section 18 of the wealth tax act, 1957, may be deleted.2.76. ..... failure to furnish returns, comply with notices, concealment of income, etc. ..... failure to furnish returns, comply with notices, concealment of income, etc. ..... failure to furnish returns, comply with notices, concealment of income, etc. ..... failure to furnish returns, comply with notices, concealment of income, etc. ..... or section 144 or section 147 (reduced by the expenditure incurred bona fide by him for the purpose of making or earning any income included in the total income but which has been disallowed as a deduction), such person shall, unless he proves that the failure to return the correct income did not arise from any fraud or any gross or willful neglect on his part, be deemed to have concealed the particulars of his income or furnished inaccurate particulars of such income for .....

Assistant Commissioner of Income Tax Vs. Jawahar Mills Ltd.

Court : Chennai

Reported in : [2000]107TAXMAN574(Mad)

..... section 18(1)(a) of the wealth tax act imposes penalty for failure to furnish wealth-tax returns. ..... 297)section 271(1)(a) imposes penalty for failure to furnish returns and comply with the notice and concealment of income. ..... it is also held that the assessee was conscious of the fact that the wealth-tax returns should be filed within the time stipulated under section 14(1) of the act. ..... pate] & co's case (supra), the supreme court in a case arising under section 271(1)(a) of the act has held thus :'there is nothing in section 271 (1)(a) of the income tax act, 1961, which requires that mens rea has to be established by the department before penalty can be levied under that section for delay in filing the return. ..... the facts of the above case will show that the assessee filed wealth-tax returns belatedly and that though he applied for extension of time, the returns were filed after the expiry of the period of extension. ..... the relevant observation of the patna high court is extracted below :'the words 'fails without reasonable cause or excuse' occurring in section 276 (now and section 272(2) of the income tax act, 1961, show that mens rea is an ingredient before punishing the defaulter. ..... the case reported in p nainakhan's case (supra) relates to non-filing of wealth-tax returns within the time stipulated under section 14(1) of the wealth- tax act, 1957. .....

Shanti Sarup Sharma Vs. Commissioner of Income-tax and Another.

Court : Punjab and Haryana

Reported in : (1999)154CTR(P& H)503; [1999]237ITR376(P& H); [1999]106TAXMAN274(Punj& Har)

..... case where penalty had been imposed under section 18(1)(a) of the wealth-tax act on account of the appellant's failure to furnish the return of wealth within the time allowed in the relevant ..... the assessing officer levied penalty also for failure to furnish returns, without reasonable cause, under section 271(1)(a) of the act.the petitioner filed an application under section 273a of the act before the commissioner of income-tax , seeking waiver of interest and penalty charged and levied ..... cwt : [1997]224itr418(sc) had an occasion to examine a matter regarding waiver of penalty under section 18b of the wealth-tax act, which is analogous to section 273a of the act, where under also a similar discretion has been conferred on the commissioner for either reducing the penalty or granting ..... held that under section 18b of the wealth-tax act, the following five conditions are required to be fulfilled (page 126) :'(1) that the returns were filed by the petitioner prior to the issuance of a notice to her under sub-section (2) of section 14 of the act(2) that these were filed voluntarily and in good faith ;(3) that the petitioner had made full and true disclosure of her net(4) that she had co-operated in the inquiry relating to the assessment of her net wealth ; and(5) ..... the common factor is the making of a full and true disclosure of income voluntarily and in good faith;this court had also an occasion to examine a matter under section 18b of the wealth-tax act, 1957, in parkash devi (smt.) v. .....

Commissioner of Wealth Tax Vs. Chikmagalur Club

Court : Karnataka

Reported in : ILR2005KAR4673; [2007]290ITR522(KAR); [2007]290ITR522(Karn)

..... in the course of any proceedings under this act, is satisfied that any person--(a) has without reasonable cause failed to furnish the return of his net wealth which is required to furnish under sub-section (1) or sub-section (2) of section 14 or section 17 or has without reasonable cause failed to furnish it within the time allowed and in the manner required or(b) xxxxx(c) xxxxxhe or it may, by order in writing, direct that, such person shall pay by way of penalty--(i) in the case referred to clause (a), in addition to the amount of wealth-tax payable by him, a sum not exceeding ..... analysis of the section as it existed during the relevant assessment year would indicate, that a wto, aac, cwt or tribunal, in the course of proceedings under the wt act, may impose a penalty for delayed filing or non-filing of return (till 31st march, 1989) on any person, who has without reasonable cause has committed any of the following defaults, namely :(a) failure to furnish return required to be furnished under section 14(1) or by a notice under section 14(2) or section 17;(b) failure to furnish return within the time allowed and in the manner required by section 14(1) or by notice under section 14(2) or section 17.18. ..... rejecting the claim made in the returns filed, the wto had assessed the wealth of the assessee in the status of individual and charged wealth-tax, under the provisions of the wt act, 1957 ('act' for short).3. .....