Definitions for Settlement Commission proceedings clarify 'case' scope and pending appeal treatment under Wealth-tax law. New definitions for settlement proceedings in the Wealth-tax Act define Bench, Chairman, Member, Vice-Chairman, Settlement Commission, and wealth-tax ... Summary
Definitions for Settlement Commission proceedings clarify 'case' scope and pending appeal treatment under Wealth-tax law.
New definitions for settlement proceedings in the Wealth-tax Act define Bench, Chairman, Member, Vice-Chairman, Settlement Commission, and wealth-tax authority; and define "case" to mean assessment, reassessment, appeal or revision proceedings pending before a wealth-tax authority when an application under section 22C is made, excluding appeals or revisions admitted after prescribed filing periods from being treated as pending.
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