https://www.taxtmi.com/caselaws?id=38053 The court held that the default in filing wealth-tax returns constituted a "continuing default," and penalties should be calculated based on the law in force during each month of default. Penalties were determined under the original Section 18(1)(a)(i) for periods before April 1, 1965, the 1964 Amendment from April 1, 1965, to March 31, 1969, and the 1969 Amendment thereafter. The dissenting opinion argued for penalties to be imposed based on the law at the time of the initial default, treating it as a "completed offence." Ultimately, the court upheld the Tribunal's decision, endorsing the continuing default approach for penalty calculation. en-us Mon, 03 Apr 1978 00:00:00 +0530 Fri, 02 Apr 2010 17:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38053 The court held that the default in filing wealth-tax returns constituted a "continuing default," and penalties should be calculated based on the law in force during each month of default. Penalties were determined under the original Section 18(1)(a)(i) for periods before April 1, 1965, the 1964 Amendment from April 1, 1965, to March 31, 1969, and the 1969 Amendment thereafter. The dissenting opinion argued for penalties to be imposed based on the law at the time of the initial default, treating it as a "completed offence." Ultimately, the court upheld the Tribunal's decision, endorsing the continuing default approach for penalty calculation. Case-Laws Wealth-tax Mon, 03 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38053