COMMISSIONER OF WEALTH TAX Vs. JAGARNATH SINGH

JUDGEMENT

(1.) THIS is a batch of five reference cases under Section 27(1) of the W.T. Act, 1957 (hereinafter referred to as "the Act"), in which the point of law involved is common and the questions referred to this court for opinion are with regard to five assessment years in which different quantam are involved. Hence, the Income-tax Appellate Tribunal, Bench "A", Patna, has referred the following questions of law for our opinion :

(2.) THE statement of case has been submitted which will speak out for itself with regard to the fact and the point at issue.

(3.) THE Supreme Court went on to hold that the default complained of was one falling under Section 18(1)(a) of the Act and the penalty had to be computed in accordance with law in force on the last date on which the return in question had to be filed. Neither the amendment made in 1964 nor the amendment made in 1969 had any retrospective effect.