COMMISSIONER OF WEALTH TAX Vs. CHANDMAL SURAJMAL

JUDGEMENT

(1.) THIS is a reference under Section 27(1) of the W.T. Act, 1957 (hereinafter referred to as "the Act"), by the Tribunal at the instance of the Department for answer to the following questions by this court:

(2.) THE short facts material for answering the aforesaid questions are these:

(3.) WITH regard to the first question, the contention was that in view of the amended Section 18(3), the WTO had the jurisdiction even regarding the amount, in respect of which penalty is imposable under Clause (c) of Section 18(1) of the Act, exceeded a sum of twenty-five thousand rupees; the IAC had no jurisdiction on the date he imposed the penalty. The argument of the learned counsel for the assessee was that the jurisdiction of the IAC should be determined with reference to the law in force on the date of imposing the penalty.