Law: Wealth Tax Act, (XV of 1963)

Section: 31,31B(1)(b)

Wealth Tax Act (XV of 1963)--S. 31B(1)(b)---Additional Wealth-tax---Assessee contended that Appellate Tribunal erred in restoring the additional tax charged for the period from the date till the framing of assessments whereas under the provision of S.31B(1)(a)' of the Wealth Tax Act, 1963 it was chargeable only for the period till the end of the, relevant assessment year---Validity---Held, direction had already been given by the Appellate Tribunal to calculate additional tax keeping in view the provisions of S.31B(1)(b) of the Wealth Tax Act, 1963, there was no reason to make any further finding on the subject. 2002 PTD (Trib.) 221 rel. ORDER The instant Miscellaneous Applications have been filed to seek rectification in the order of this Tribunal passed vide W.T.As. Nos.5 to 12/KB/2007 dated 29-2-2008. The primary reason for filing these applications are that the additional tax charged for the period from the due date till the framing of order is incorrect and illegal in the eyes of the law as the provisions of section 31B(1)(b) are very clear that the additional tax is chargeable only for the period from due date till the end of the relevant assessment year. Reliance is placed on the case law reported as 2002 PTD Tribunal 221. 2. The Miscellaneous Applications also after certain procedural lapses on account of service of notice and non-granting of proper opportunity which according to the learned AR can be construed as mistake apparent from record. 3. Mr. Abdul Tahir ITP appeared on behalf of the applicant assessee and argued with vehemence on the grounds set forth in the miscellaneous applications while none attended from the side of the department. 4. After considering the arguments of learned AR and perusing the relevant record we have found that the applications have been moved merely on the ground that this Tribunal erred in restoring the additional tax charged for the period from the date till the framing of assessments whereas under the provisions of section 31B(1)(a) of Wealth Tax Act it was chargeable only for the period till the end of the relevant assessment year. 5. On going…

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