Smt. HarbanKaur Etc. vs Commissioner Of Wealth Tax

Authority: Supreme Court Date: 1997-01-13 AY: 1970-71, 1971-72, 1972-73, 1973-74, 1974-75, 1975-76 Section: WT18B Acts: Wealth Tax Act, 1957; Taxation Laws (Amendment) Act, 1975; Income Tax Act, 1961 Result: Revenue Citation: (1997) 138 CTR (SC) 211 : (1997) 224 ITR 418 (SC) : (1997) 90 TAXMAN 398 Justices: B.P. Jeevan Reddy & K.T. Thomas, JJ. Appeal No: Civil Appeal No. 1334 of 1981 with CA Nos. 1335 to 1338 of 198100
Whether the Commissioner of Wealth Tax, upon being satisfied that the conditions under Section 18B of the Wealth Tax Act, 1957 are met, is obligated to grant a full waiver of penalty, or retains the discretion to merely reduce it? --- Held: The Commissioner retains the discretion to either reduce or waive the penalty in full; full waiver is not mandatory.

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