1977 (3) TMI 68

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....8(1)(a) of the WT Act for the asst. yrs. 1966-67, 1967-68 and 1968-69 by directing the WTO to recompute the penalties with reference to the rates of penalty in force on the default, i.e. the dates on which the WT returns were due, but failed to be filed. 2. The WTO levied penalties of Rs. 72,400 Rs. 81,600 and Rs. 1,05,900 respectively under s. 18(1)(a) of the WT Act for the year under appeal for....

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.... quantum of penalty for the years under appeal. He submitted that a special leave petition has been filed in the Supreme Court against the said decision of the Madras High Court. He, therefore, urged that the orders of the WTO should be restored. On behalf of the assessee reliance was placed on the orders of the AAC. 4. On a careful consideration of the rival submission, we are of the opinion tha....

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....st day for filing the return viz. 30th June, 1962 and on that date the provision amending the rate of penalty was no applicable and such amendment became applicable in from 1st April, 1963. The High Court held that only the rate of penalty as per the unamended provision of s. 17(1)(a) was applicable to the default committed by the assessee. The ratio of the above ruling would squarely apply to the....