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1979 (9) TMI 90 - AT - Income TaxExtract: ....... even on the ground of jurisdiction of the IAC to impose the penalty under s. 18(3) r/w s. 18(1)(c) of the WT Act, 1957 on or after 1st April, 1976, when the jurisdiction of the IAC to impose the penalty was taken away by the Taxation Laws (Amendment) Act, 1975 w.e.f. 1st April, 1976. The penalty is, therefore, cancelled. 10. The appeal is allowed.
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