1978 (4) TMI 53

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....ment year 1968-69 the assessee should have filed his return under the Wealth-tax Act, 1957, on or before June 30, 1968. The return was, however, filed on December 30, 1969. The WTO imposed penalty under s. 18(1)(a) of the W.T. Act, 1957. When the matter reached the Tribunal, it held that the law as it stood on April 1 of the assessment year, namely, April 1, 1968, was applicable in order to determ....