Section 74 - Amendment of section 16 - Finance (No. 2) Act, 1991

74. Amendment of section 16 In section 16 of the Wealth-tax Act, with effect from the 1st day of October, 1991,- (a) in sub-section (2), for the proviso, the following proviso shall be substituted, namely:- Provided that no notice under this sub-section shall be served on the assessee after the expiry of twelve months from the end of the month in which the return is furnished. ; (b) the following Explanation shall be inserted at the end, namely:- Explanation.- an intimation sent to the assessee under sub-section (1) or sub-section (1B) shall be deemed to be an order for the purposes of sub-section (1) of section 25 .