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of <h1>Finance Bill 2010: Amendment to Wealth-tax Act Section 27 Allows Late High Court Applications with Sufficient Cause</h1> Clause 55 of the Finance Bill, 2010 amends section 27 of the Wealth-tax Act by introducing sub-section (3B), effective retroactively from June 1, 1981. This amendment allows the High Court to admit applications beyond the existing ninety-day period if there is sufficient cause for delay. Previously, sub-section (3) required applications to be filed within ninety days from receiving a Tribunal order that refused to state a case due to no question of law arising. The amendment provides flexibility for the assessee or the Commissioner to seek High Court intervention beyond the standard timeframe.
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