Amendment to Section 35K fixes its temporal scope and redefines which wealth-tax authorities may act under the provision.

Section 35K is amended to substitute "an assessment year" with the specific phrase "the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year", thereby fixing the provision's temporal scope. Subsection (2) is amended by replacing the prior enumerated list of authorities with the phrase "any Wealth-tax authority (not being an Inspector of Income-tax)", thus redefining the class of officials to whom the subsection applies while expressly excluding Inspectors of Income-tax.

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