https://www.taxtmi.com/caselaws?id=28186 The court held that the penalty for the delay in filing the return should be determined based on the provisions of section 18(1)(a)(i) as they stood on the date the default occurred. The amended provisions effective from April 1, 1969, were not applicable to defaults that occurred prior to that date. The court ruled in favor of the assessee, awarding costs of the reference. The decision emphasized that penalty provisions at the time of the default govern the penalty amount, and failure to file returns is not viewed as a continuous default. en-us Wed, 07 Jan 1981 00:00:00 +0530 Fri, 19 Feb 2010 15:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28186 The court held that the penalty for the delay in filing the return should be determined based on the provisions of section 18(1)(a)(i) as they stood on the date the default occurred. The amended provisions effective from April 1, 1969, were not applicable to defaults that occurred prior to that date. The court ruled in favor of the assessee, awarding costs of the reference. The decision emphasized that penalty provisions at the time of the default govern the penalty amount, and failure to file returns is not viewed as a continuous default. Case-Laws Wealth-tax Wed, 07 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28186