1980 (1) TMI 29

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..... Wealth-tax Act (hereinafter referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following question of law for the opinion of this court: " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that penalty under section 18(1)(a) for the period of default occurring after March 31, 1969, for the assessme .....

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..... March 16, 1973. The penalties were levied in accordance with the amended provisions of s. 18(1)(a) of the Act which came into force on April 1, 1969. The assessee preferred appeals against the order of the WTO to the AAC. The appeals were allowed and it was held that the penalty was imposable in accordance with the provisions of s. 18(1)(a) of the Act as it stood prior to its amendment. The appeal .....

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