https://www.taxtmi.com/caselaws?id=24917 Following the Taxation Laws (Amendment) Act, 1975, effective from 1 April 1976, the Inspecting Assistant Commissioner ceased to be the competent authority to impose penalty under section 18(1)(c) of the Wealth-tax Act, 1957. Applying the earlier binding decision on the same issue, the court treated penalty orders passed after that date as lacking jurisdictional support. The result was that penalty proceedings culminating in orders made in March 1977 could not be sustained by the Inspecting Assistant Commissioner. en-us Wed, 16 Mar 1988 00:00:00 +0530 Sat, 23 Jan 2010 12:09:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24917 Following the Taxation Laws (Amendment) Act, 1975, effective from 1 April 1976, the Inspecting Assistant Commissioner ceased to be the competent authority to impose penalty under section 18(1)(c) of the Wealth-tax Act, 1957. Applying the earlier binding decision on the same issue, the court treated penalty orders passed after that date as lacking jurisdictional support. The result was that penalty proceedings culminating in orders made in March 1977 could not be sustained by the Inspecting Assistant Commissioner. Case-Laws Wealth-tax Wed, 16 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24917