Wealth-tax
Amendment of section 27A.
56. In section 27A of the Wealth-tax Act, after sub-section (1), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1998, namely:—
"(1A) The High Court may admit an appeal after the expiry of the period of one hundred and twenty days referred to in sub-section (1), if it is satisfied that there was sufficient cause for not filing the same within that period.".
Notes on Clauses:
Clause 56 of the Bill seeks to amend section 27A of the Wealth tax Act relating to appeal to High Court.
The existing provision contained in sub-section (1) of the said section provides one hundred and twenty days, from the date of receipt of the order appealed against, as the period of limitation for filing an appeal to the High Court.
It is proposed to insert a new sub-section (1A) so as to empower the High Court to admit an appeal after the expiry of said period of one hundred and twenty days if it is satisfied that there was sufficient cause for not filing the same within that period.
This amendment will take effect retrospectively from 1st October, 1998.
