Section 81 - Amendment of section 22D - Finance Act, 1987

81. Amendment of section 22D In of the Wealth-tax Act, with effect from the 1st day of June, 1987, - (a) after sub-section (4), the following sub-section shall be inserted, namely :- (5) Subject to the provisions of section 22BA, the materials brought on record before the Settlement Commission shall be considered by the Members of the concerned Bench before passing any order under sub-section (4) and, in relation to the passing of such order, the provisions of section 22BD shall apply. ; (b) in sub-section (6), for the words tax or penalty , the words tax, penalty or interest shall be substituted.