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TMI Blog2019 (12) TMI 1135X X X X Extracts X X X X X X X X Extracts X X X X ..... on the following substantial questions of law: (i) Whether on the facts and in the circumstances of the case, the order passed by the ACWT dated 30/06/2008, is barred by limitation being made beyond period of one year as required u/s 17A(2) of the WT Act, and consequently the penalty proceedings initiated u/s 18(1)(c) are unsustainable/bad in law ? (ii) Whether the learned ITAT upon coming to the conclusion that there was no malafide intention on the part of the Assessee to delay the filing of the returns and it was due to oversight without any element of deliberateness, the ITAT was further right in law/justified in holding that Expl. (3) to Section 18(1)(c) of the Wealth Tax Act 1957, is attracted to Assessee's case for AY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duty bound to consider this issue, particularly, since, it is an issue of law and further, an issue, which goes to the root of the jurisdiction. For these reasons, Mr. Rivankar, submits that the aforesaid substantial questions of law are liable to be answered in favour of the appellant and against the respondent. 6. We have carefully considered the contentions raised by Mr. Rivankar and also perused record. We find that in this case, both the Commissioner (Appeals) as well as the ITAT have held that explanation 3 to Section 18 of the Wealth Tax Act is attracted. This is on the basis that for the assessment year 2003-04, the re-assessment notice was issued to the appellant prior to the appellant filing its returns. No doubt, the ITAT has al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Wealth Tax Act. The issue as to whether, explanation 3 to Section 18 of the Wealth Tax Act, is attracted or not, is a mixed question of law and facts and therefore, the Wealth Tax Officer will have to consider this issue as well. Needless to mention that the Wealth Tax Officer will have to afford an opportunity of hearing before deciding the matter in pursuance of the remand. The substantial questions of law as framed, therefore, cannot be answered in favour of the appellant, at this stage, as raised. 9. The Appeal is accordingly disposed off with the aforesaid clarification. The Wealth Tax Officer to dispose off the proceedings now remanded to him in accordance with law and on its own merits by treating the observations in the impugne ..... X X X X Extracts X X X X X X X X Extracts X X X X
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