Section 24 - Amendment of Section 22D - Finance Act, 1979

24. Amendment of Section 22D In section 22D of the Wealth-tax Act, - (a) in sub-section (1), the second proviso shall be omitted; (b) after sub-section (1), the following sub-section shall be inserted, namely :- (1A) Notwithstanding anything contained in sub-section (1), an application shall not be proceeded with under that sub-section if the Commissioner objects to the application being proceeded with on the ground that concealment of particulars of the net wealth on the part of the applicant or perpetration of fraud by him for evading any tax or other sum chargeable or imposable under this Act has been established or is likely to be established by any wealth-tax authority, in relation to the case : Provided that where the Settlement Commission is not satisfied with the correctness of the objection raised by the Commissioner, the Settlement Commission may, after giving the Commissioner an opportunity of being heard, by order, allow the application to be proceeded with under sub-section (1) and send a copy of its order to the Commissioner. .