https://www.taxtmi.com/caselaws?id=23507 For delay in filing wealth-tax returns, the default was treated as continuing, so penalty fell to be computed under the law in force during the period of continued non-filing. The amended penalty provision in force from 1 April 1969 therefore applied, and the earlier approach of fixing the computation by reference only to the rate prevailing on the initial date of default was rejected as no longer sustainable. The Tribunal's contrary view based on the earlier decision was held unsustainable. en-us Fri, 06 Oct 1989 00:00:00 +0530 Sat, 19 Dec 2009 18:07:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23507 For delay in filing wealth-tax returns, the default was treated as continuing, so penalty fell to be computed under the law in force during the period of continued non-filing. The amended penalty provision in force from 1 April 1969 therefore applied, and the earlier approach of fixing the computation by reference only to the rate prevailing on the initial date of default was rejected as no longer sustainable. The Tribunal's contrary view based on the earlier decision was held unsustainable. Case-Laws Wealth-tax Fri, 06 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23507