9911796707
TMI Blog2007 (3) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... ), for the opinion of this court. "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in holding that the accountant's certificate can be furnished even during the course of assessment proceedings when as per the second proviso to rule 9A of Schedule III of the Wealth-tax Act, 1957, the same is specifically required to be attached to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per rule 9 of Schedule III to the Act). In reply, the respondent-assessee filed an accountant's certificate dated October 25, 1991, i.e., of a date anterior to the date of filing of return of wealth. The Assessing Officer, however, held that the respondent-assessee had failed to comply with the requirement of rule 9A of Schedule III to the Act. Accordingly vide order under section 16(3) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cate with the return of wealth was a mere procedural requirement. On consideration of the facts, the Tribunal held that while compliance with the requirement of obtaining the accountant's certificate was mandatory, the manner of submitting proof of such compliance along with the return was only directory. Because it fell in the realm of procedure for furnishing of evidence in support of the claim. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the accountant was not attached along with the return but was filed subsequently, the Tribunal was not justified in giving the benefit of rule 9A of the IIIrd Schedule. The submission is misconceived. Filing of the certificate given by the accountant for the average value of the quoted shares is only directory and not mandatory. As in the present case the assessee had filed the certificate of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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