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2002 (1) TMI 8 - KARNATAKA HIGH COURT"Whether in terms of section 17B of the Act the assessee can be held liable to pay interest for delay in filing the return of net wealth?" - The assessees have preferred these appeals under section 27 of the Wealth-tax Act, 1957 ('the Act" for short). By the impugned order the Tribunal ha s held that the assessees have rightly been held liable to pay interest under section 17B of the Act. - In the present case, admittedly, the assessee has not paid the admitted tax due on the net wealth returned by him. Therefore, the Commissioner of Wealth-tax (Appeals) had no competence to entertain the appeal and it was rightly dismissed in limine. - we hold that the Tribunal was justified in rejecting the appeals.
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