| Case ID |
396060c2-6378-42d4-a114-d0b5b0c573c5 |
| Body |
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| Case Number |
Miscellaneous Civil Case No. 242 of 1976 |
| Decision Date |
Feb 20, 1979 |
| Hearing Date |
|
| Decision |
The court held that the penalties imposed for the late filing of wealth tax returns were to be determined under the law as it stood on the dates the defaults occurred, specifically June 30 of the respective years (1961, 1962, and 1963). The tribunal's decision to reduce the penalty based on the law prior to the amendment effective April 1, 1969, was upheld. The maximum penalty under the law prior to the amendment was 2% of the tax for every month of default, not exceeding 50% in total. The reference made by the Income-tax Appellate Tribunal was answered affirmatively, confirming the application of the earlier law. |
| Summary |
This case revolves around the interpretation of the Wealth Tax Act, 1957 concerning penalties for late filing of wealth tax returns. The Madhya Pradesh High Court addressed the issue of whether the amended law or the law in force at the time of default should apply. The court concluded that the law applicable at the time of the default must govern the penalties imposed for late filing. This decision is significant for tax law practitioners and taxpayers as it clarifies the applicable legal framework for penalties under the Wealth Tax Act. It reinforces the principle that the law in effect at the time of the default governs the penalties, providing essential legal certainty for future cases. The ruling is crucial for understanding the implications of legislative amendments on pending tax matters and highlights the importance of timely compliance with tax obligations. |
| Court |
Madhya Pradesh High Court
|
| Entities Involved |
Not available
|
| Judges |
G. L. OZA,
G. G. SOHANI
|
| Lawyers |
A. M. Mathur,
K. A. Chitale
|
| Petitioners |
ADDITIONAL COMMISSIONER OF WEALTH TAX, M. P
|
| Respondents |
Smt. MANJULADEVI MUCHHAL
|
| Citations |
1981 SLD 41,
1981 PTD 90,
(1981) 43 TAX 50
|
| Other Citations |
C. W. T. v. Ram Narain Agrawal (1977) 106 I T R 965 (All.),
C. G. T. v. C. Muthukumaraswamy Mudaliar (1975) 98 I T R 540 (Mad.),
C. W. T. v. P. C. M. Sundarapandian (1978) 114 I T R 367 (Mad.),
C. W. T. v. C. S. Manvi (1978) 114 I T R 417 (Ker.),
C. W. T. v. V. R. Desai (1977) 108 I T R 787 (A P),
C. I. T. v. Bhan Singh Boota Singh (1974) 95 I T R 562 (Pb.),
C. I. T. v. Ramchand Kundanlal Saraf (1975) 96 I T R 474 (M P)
|
| Laws Involved |
Wealth Tax Act, 1957
|
| Sections |
18(1)(a),
27
|