9911796707
TMI Blog1985 (1) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... ication No. 733 of 1976 made under section 27(3) of the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act'), the Income-tax Appellate Tribunal, Allahabad Bench, Allahabad, has made this reference for the assessment years 1967-68 to 1969-70. Sri R.K. Gulati, counsel for the applicant, has made a statement before us that since an application under section 18B of the Act made by the applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssued to the assessee who submitted his explanation which, however, did not find favour with the Wealth-tax Officer and penalties in the sum of Rs. 5,130 and Rs. 5,085, respectively, were imposed. The appeals preferred by the assessee before the Appellate Assistant Commissioner and thereafter to the Tribunal were dismissed. Application made by the assessee under section 27(1) of the Act was also d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustified and sustainable in law ? 3. Whether the amended provisions of section 18(1)(a) which came into being with effect from April 1, 1969, could retrospectively be applied for the defaults committed before the amended Act came into being when returns had been filed after April 1, 1969 ? Having heard counsel for the parties, we are of the opinion that the questions Nos. 2 and 3 stand answere ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
