1978 (9) TMI 85

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....r s. 18(1) (c) of the WT Act is illegal inasmuch as the IAC had no jurisdiction to levy penalty in this case. 2. On the charge of concealment of particulars of wealth the WTO initiated penalty proceedings during the assessment proceedings which were completed on 30th Sept., 1975 and referred the matter to the IAC as the minimum penalty imposable in this case was exceeding Rs. 25,000. The IAC af....

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....h effect from 1st April, 1976 the penalty under s.18 can be imposed by the WTO alone and as such the IAC has no jurisdiction to levy penalty under that section after 1st April, 1976. The matter of jurisdiction being procedural it is to be guided by the law as it exists on the date of its exercise. Even if a proceeding is pending before the IAC on a day because of the change of law altering or taki....