https://www.taxtmi.com/caselaws?id=56077 The court allowed the appeal regarding the penalty calculation under the Wealth-tax Act for delayed filing of the return. It held that the penalty should be calculated according to the law prevailing at the time of initiating the penalty proceedings. The court determined that non-filing of the return constitutes a continuing offense, applying the legislative scheme under the Income-tax Act. The penalty was directed to be calculated in two parts based on the old and new sections of the Act, in line with precedents from the Bombay and Patna High Courts. en-us Wed, 19 Apr 1989 00:00:00 +0530 Wed, 01 Dec 2010 14:56:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56077 The court allowed the appeal regarding the penalty calculation under the Wealth-tax Act for delayed filing of the return. It held that the penalty should be calculated according to the law prevailing at the time of initiating the penalty proceedings. The court determined that non-filing of the return constitutes a continuing offense, applying the legislative scheme under the Income-tax Act. The penalty was directed to be calculated in two parts based on the old and new sections of the Act, in line with precedents from the Bombay and Patna High Courts. Case-Laws Income Tax Wed, 19 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56077