https://www.taxtmi.com/caselaws?id=67103 The Tribunal upheld the AAC's order, confirming that penalties for defaults under Section 18(1)(a) of the Wealth-tax Act should be computed based on the amended provisions effective from 1st April 1976. The appeals by the Revenue were dismissed, emphasizing that penalty provisions should be applied as they exist at the time of assessment and initiation of penalty proceedings. en-us Wed, 22 Apr 1987 00:00:00 +0530 Wed, 09 Mar 2011 11:00:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67103 The Tribunal upheld the AAC's order, confirming that penalties for defaults under Section 18(1)(a) of the Wealth-tax Act should be computed based on the amended provisions effective from 1st April 1976. The appeals by the Revenue were dismissed, emphasizing that penalty provisions should be applied as they exist at the time of assessment and initiation of penalty proceedings. Case-Laws Wealth-tax Wed, 22 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67103