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49. Amendment of section 260A. |
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—In section 260A of the Income-tax Act, after sub-section (2), 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:—
"(2A) The High Court may admit an appeal after the expiry of the period of one hundred and twenty days referred to in clause (a) of sub-section (2), if it is satisfied that there was sufficient cause for not filing the same within that period.".
Clause 49 of the Bill seeks to amend section 260A of the Income-tax Act relating to appeal to High Court.
The existing provision contained in clause (a) of sub-section (2) of the aforesaid section provides one hundred and twenty days from the date of receipt of the order appealed against, as the period of limitation for filing of an appeal to the High Court.
It is proposed to insert a new sub-section (2A) 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 appeal within the said period.
This amendment will take effect retrospectively from 1st October, 1998.
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