Law:

Section:

Section 18(1)(a) of the Wealth-tax Act, 1957-Penalty-For late filing of return-Assessee belatedly filed wealth-tax returns due on 29-6-1957 and 29-6-1968-Whether section 18(1)(a), as stood before 1-4-1969, could form the basis for imposing penalty for late filing of return notwithstanding the fact that default continued even after 1-4-1969-Held, yes Facts The assessee filed her wealth-tax returns on 15-11-1969 as against due dates of 29-6-1967 (assessment year 1967-68) and 29-6-1968 (assessment year 1968-69). The WTO imposed penalty under section 18(1)(a ) for the respective years which were reduced by the AAC. On appeal by the revenue, the Tribunal restored the penalties imposed by the WTO observing that a default under section 18(1)(a) was a continuing default attracting the law as applicable from time to time during the period the default continued. On reference : Held Since the due dates for filing the returns were 29-6-1967 and 29-6-1968, the law applicable for the purpose of imposing penalty under section 15(1)(a ) would be the law as it stood prior to its amendment on 1-4-1969. This would be so even if the period of default continued subsequent to 1-4-1969. Case review CWT v. Ram Narain Agarwal [1977] 106 ITR 965 (All.) and CIT v. Smt. Raj Rani Devi [1979] 116 ITR 358 (All.)followed. Cases referred to CWT v. Ram Narain Agrawal [1977] 106 ITR 965 (All.) and CIT v. Smt. Raj Rani Devi [1979] 116 358 (All.) JUDGMENT Rastogi J.-The Income-tax Appellate Tribunal, Delhi Bench-A, has referred the following questions at the instance of the assessee, for the opinion of this court: "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that section 18(1)(a) of the Wealth-tax Act, as amended w.e.f. April 1, 1969, would apply in imposing the penalty ? 2. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in sustaining the penalty under section 18(l)(a) more than half of the tax levied ?" The assessee is an individual. For the assessment year 1967-68, the assessee should have filed her return of wealth-tax by June 29, 1967, and for the assessment year…

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