Suhas Chandra Sen, J. - (1.) In this case, the assessee is an individual and the relevant assessment year is 1966-67. The return of net wealth for the said assessment year was due for submission on or before 30th June, 19,66, but was actually filed on 28th September, 1967. Because the return was filed late, penalty proceeding under Section 18(1)(a) of the W. T. Act was initiated. The WTO ultimately imposed a penalty of Rs. 12,874 under Section 18(1)(a) of the Act on 27th . November, 1967.
(2.) The assessee preferred an appeal to the AAC against the penalty order and the AAC, following the decision of this court in the case of CIT v. Vegetable Products Ltd. (1971] 80 ITR 14, gave a direction to the WTO to verify whether the wealth-tax for the assessment year under consideration was paid and, if so, whether there was any justification for imposition of penalty.
(3.) The WTO preferred an appeal to the Tribunal against the order of the AAC. The Tribunal upheld the order of the AAC relying on the case of CIT v. Vegetable Products Ltd. The Tribunal was of the view that this case was completely covered by the decision of the Calcutta High Court.;