Law:

Section:

Section 27(3) of the Wealth-tax Act, 1957 - Reference - Period of limitation - Whether provisions of section 5 of the Indian Limitation Act, 1908, applies to an application filed under section 27(3) - Held, yes Facts The assessee filed an application under section 27(3) along with an application under section 5 of the Indian Limitation Act, 1908 inasmuch as the application under section 27(3) was filed beyond the period of limitation prescribed for such an application. The Division Bench of the High Court referred the matter to the Full Bench. Held Section 27, as it stood prior to its amendment by the Amendment Act, 1964, which came into effect from 1-4-1965 had nine sub-sections. By the aforesaid amendment, sub-sections (8) and (9) were deleted. Sub-section (9) so deleted made section 5 to an application to the High Court. The term 'application to the High Court to apply under this section' contained in sub-section (9) obviously referred to the application contemplated by section 27(3). The reasons for deletion of sub-section (9) of section 27 are to be found in the statement of objects and reasons and the notes on clauses of the Wealth-tax (Amendment) Act, 1964. From which it was clear that the reason for deleting subsection (9) was not that the Parliament was of the view that section 5 should not be applied to an application under section 27(3) but the reason was that the aforesaid sub-section (9) had become redundant. The reason of its becoming redundant was that the Indian Limitation Act, 1908 was substituted by the Limitation Act, 1961, which came into force from 1-1-1964. Section 29(2) as it stood in the Indian Limitation Act, 1908, contemplated that sections 4, 9 to 18 and 22 would apply to a special or local law only insofar as and to the extent to which they were not expressly excluded by the said special or local law and the remaining provisions of the Indian Limitation Act would not apply. In view of section 29(2), section 5 did not apply to a special or local law and whenever it was considered necessary to apply the provisions of section 5 to a special or local law, specific provision used to be made under the relevant special or local law. The Act…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492