Wealth-tax
Amendment of section 27.
55. In section 27 of the Wealth-tax Act, after sub-section (3A), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 1981, namely:—
"(3B) The High Court may admit an application after the expiry of the period of ninety days referred to in sub-section (3), if it is satisfied that there was sufficient cause for not filing the same within that period.".
Notes on Clauses:
Clause 55 of the Bill seeks to amend section 27 of the Wealth tax Act relating to reference to High Court.
The existing provision contained in sub-section (3) of the aforesaid section provides for a period of ninety days, from the date of receipt of the order of Tribunal refusing to state the case on the ground that no question of law arises. The assessee or the Commissioner may within the said period apply to the High Court to require the Tribunal to state the case and to refer it.
It is proposed to insert a new sub-section (3B) so as to empower the High Court to admit an application after the expiry of said period of ninety days if it is satisfied that there was sufficient cause for not filing the appeal within the said period.
This amendment will take effect retrospectively from 1st June, 1981.
