https://www.taxtmi.com/caselaws?id=18861 The court held that the penalty under section 18(1)(a) of the Wealth-tax Act should be calculated based on the law in force when the return was due, and from April 1, 1969, onwards, according to the amended provisions. The Tribunal's decision to calculate the penalty based on the law at the time of the return due date was deemed incorrect. The judgment favored the Revenue, ruling against the assessee and answering the question in the negative. en-us Thu, 07 Sep 1995 00:00:00 +0530 Mon, 02 Nov 2009 13:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18861 The court held that the penalty under section 18(1)(a) of the Wealth-tax Act should be calculated based on the law in force when the return was due, and from April 1, 1969, onwards, according to the amended provisions. The Tribunal's decision to calculate the penalty based on the law at the time of the return due date was deemed incorrect. The judgment favored the Revenue, ruling against the assessee and answering the question in the negative. Case-Laws Income Tax Thu, 07 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18861