1978 (4) TMI 53

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..... ivered by SATISH CHANDRA C.J.--For the assessment year 1968-69 the assessee should have filed his return under the Wealth-tax Act, 1957, on or before June 30, 1968. The return was, however, filed on December 30, 1969. The WTO imposed penalty under s. 18(1)(a) of the W.T. Act, 1957. When the matter reached the Tribunal, it held that the law as it stood on April 1 of the assessment year, namely, Ap .....

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..... ion of the Tribunal, yet we dissent from the view that the law as it stood on April 1of that year was applicable. The date of the beginning of the assesment year is, in our opinion, irrelevant because the taxable event is the date when the return was, in law, due. We, therefore, answer the question referred to us by holding that the provisions of s. 18(1)(a) as they stood on June 30, 1968, would .....

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