1995 (8) TMI 36

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....nder section 27, sub-section (3) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act"), at the instance of the Revenue. The question referred for the opinion of this court is as follows : " Whether, on the facts and in the circumstances of the case, the view of the Tribunal that the relevant date for purposes of imposition of penalty under section 18(1)(a) of the Wealth-tax Act, 19....

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....fide intention because for the year 1965-66 and the subsequent years she filed returns voluntarily. The Wealth-tax Officer did not accept these submissions. and imposed a penalty of Rs. 17,486. The Wealth-tax Officer computed penalty for the period July 1, 1964, to March 31, 1969, under the provisions of law as in force before the date of amendment which was made from April 1, 1969, for the period....

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....this court for consideration in the case of CWT v. Smt. Brij Rani [1993] 201 ITR 307. In this case, this court was of the view that the penalty under section 18(1)(a)(i) of the Wealth-tax Act, 1957, for the delay in filing the returns for the assessment years in question is to be levied for the period of delay prior to April 1, 1969, in terms of the prescribed rates with reference to the unamended....