Commissioner of Wealth Tax, Meerut vs Yadu Raj Narain Singh

In the present application filed u/s 27(3) of the Wealth-tax Act, 1957, the Commissioner of Wealth-tax, Meerut has raised the following questions of law, said to be arising out of the Tribunal''s order dated 11-8-1998:-

"Whether on the facts and in the circumstances of the case, the Ld. ITAT was justified in upholding the order of Ld. CWT(A) in canceling the penalty imposed by the Assessing Officer u/s 18(1)(c) by holding that impugned penalty could not, be imposed in a case where Explanation - 3 to section 18(1)(c) of the Wealth-tax Act is not applicable even though the assessee deliberately avoided furnishing return of his wealth despite service of notice u/s 17 of the Act was made upon him?"

We find that this Court in CWT v. Yadu Raj Narain Singh, [2006] 286 ITR 564 1 has considered the question of imposition of penalty u/s 18(1)(c) of the said Act and had come to the conclusion that no penalty was leviable. The aforesaid is inter partes and related to the assessment year 1977-78 whereas the present application relates to the assessment year 1978-79.

In view of the decision referred to above, we are of the considered opinion that no question of law out of the order of Tribunal. The application is accordingly rejected.