https://www.taxtmi.com/caselaws?id=24522 For the assessment year 1967-68, penalty under the Wealth-tax Act was to be computed under the substituted form of section 18(1)(i), first effective from 1 April 1965 and later substituted by the Finance Act, 1969. Applying the ratio of the earlier decision cited in the text, the court held that the substituted provision governed the computation of penalty for that year. The penalty computation was therefore upheld, and the question was answered in favour of the Revenue and against the assessee. en-us Thu, 23 Jun 1988 00:00:00 +0530 Wed, 20 Jan 2010 16:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24522 For the assessment year 1967-68, penalty under the Wealth-tax Act was to be computed under the substituted form of section 18(1)(i), first effective from 1 April 1965 and later substituted by the Finance Act, 1969. Applying the ratio of the earlier decision cited in the text, the court held that the substituted provision governed the computation of penalty for that year. The penalty computation was therefore upheld, and the question was answered in favour of the Revenue and against the assessee. Case-Laws Wealth-tax Thu, 23 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24522