COMMISSIONER OF WEALTH TAX Vs. NARINDER KAUR

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Delhi Bench B, New Delhi, has referred the following questions of law for the opinion of this Court which arose out of the order dt. 24th Feb., 1975 of Delhi Bench 'B' of the Tribunal in WTA Nos. 342 to 345 (Del)/72-73:

(2.) THE assessee respondent submitted wealth-tax returns in respect of all the four assessment years on 17th March, 1970. In respect of first asst. yr. 1965-66, the delay was of 16 months 18 days. In respect of subsequent assessment year the delay was 14 months 16 days. And for the further assessment year the delay was 32 months and 16 days and in the last assessment year the delay was 20 months and 16 days. The WTO divided the imposition of penalty into two periods. One period upto 31st March, 1969 and the other period commencing from 1st April, 1969 as the law was amended w.e.f. 1st April, 1969. The rate of penalty upto 31st March, 1969 was 2 per cent per month of the tax; whereas the rate of penalty w.e.f. 1st April, 1969 was half per cent month of the assessed wealth.

(3.) ON an application under S. 27(1) of the WT Act, 1957, the Tribunal has made these references on the aforesaid questions of law.