Section 55 - Amendment of section 17 - Finance Act, 1990

55. Amendment of section 17 In section 17 of the Wealth-tax Act, in sub-section (1B), in clause (a), for the words except by an Assessing Officer of the rank of Assistant Commissioner or Deputy Commissioner , the words by an Assessing Officer, who is below the rank of Assistant Commissioner, unless the Deputy Commissioner is satisfied on the reasons recorded by such Assessing Officer that it is a fit case for the issue of such notice shall be substituted.