M.R. PRABHAVATHY AND ANOTHER Vs. ASSISTANT COMMISSIONER OF INCOME TAX, NOW DEPUTY COMMISSIONER OF INCOME TAX AND ANOTHER

JUDGEMENT

(1.) THE Assessee have preferred these appeals under Section 27 of the Wealth Tax Act, 1957 ("the Act" for short). By the impugned order the Tribunal has held that the assesses have rightly been held as liable to pay interest under Section 17B of the Act.

(2.) THE only substantial question of law involved herein is:

(3.) ADMITTEDLY , assessee have not paid the admitted tax even according to the return filed by them. Therefore, after passing of the above assessment orders, notices were issued to them purporting to be for rectification under Section 35 of the Act proposing to levy interest under Section 17 of the Act. On receiving the reply from the assesses order dated 2.9.1998 was passed levying interest under Section 17B of the Act amounting to Rs. 59,328/ - and Rs. 81,472/ - respectively. The assessees assailed the said order by preferring the appeals under Section 23A(1) of the Act before the Commissioner of Wealth Tax (Appeals). Having failed to get any relief they went in second appeal before the Tribunal. But there also they could not succeed. In the memo of appeal the following four questions have been raised: