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Section 22B – The Wealth-Tax Act, 1957

The Wealth-Tax Act, 1957

 

 

22B. Wealth-tax Settlement Commission. —

 

1[22B. Wealth-tax Settlement Commission. —(1) The Central Government shall constitute a Commission to be called the Wealth-tax Settlement Commission 2[***] for the settlement of cases under this Chapter.

 

(2) The Settlement Commission shall consist of a Chairman 3[and as many Vice-Chairmen and other members as the Central Government thinks fit] and shall function within the Department of the Central Government dealing with direct taxes.

4[***]

(3) The Chairman 5 [, Vice-Chairmen] and other members of the Settlement Commission shall be appointed by the Central Government from amongst persons of integrity and outstanding ability, having special knowledge of, and experience in, problems relating to direct taxes and business accounts:

 

Provided that, where a member of the Board is appointed as the Chairman 6[, Vice-Chairman] or as a member of the Settlement Commission, he shall cease to be a member of the Board.

7[***]].

 

——————————————–

1. Chapter VA (Containing sections 22A to 22M) ins. by Act 41 of 1975, sec. 93 (w.e.f. 1-4-1976).

 

2. The words “(hereafter in this Chapter referred to as “the Settlement Commissioner”) omitted by Act 11 of 1987, sec. 78 (w.e.f. 1-6-1987).

 

3. Subs. by Act 46 of 1986, sec. 35(a), for “and two other members” (w.e.f. 10-9-1986).

 

4. Sub-section (2A) omitted by Act 46 of 1986, sec. 35(b) (w.e.f. 10-9-1986). Earlier sub-section (2A) was inserted by Act 14 of 1982, sec. 36 (w.r.e.f. 1-4-1982).

 

5. Ins. by Act 46 of 1986, sec. 35(c)(i) (w.e.f. 10-9-1986).

 

6. Ins. by Act 46 of 1986, sec. 35(c)(ii) (w.e.f. 10-9-1986).

 

7. Second proviso omitted by Act 46 of 1986, sec. 35(c)(iii) (w.e.f. l0-9-1986).

 

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The Wealth-Tax Act, 1957

 

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