COMMISSIONER OF WEALTH TAX Vs. CHUNNI LAL ANAND

JUDGEMENT

(1.) 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 Section 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, April 1, 1968, was applicable in order to determine the quantum of the penalty imposable. At the instance of the department, the Tribunal has referred the question of law, namely, whether penalty under Section 18(1)(a) was leviable with regard to the provisions as they stood on April 1, 1968, or with reference to the provisions as they stood on April 1, 1969.

(2.) IT may be mentioned that on April 1, 1969, the provisions of Section 18(1)(a) were amended.