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<h1>Amendment to Wealth-tax Act: Commissioner Must Report in 120 Days for Section 22C Applications or Settlement Proceeds Without It.</h1> In the amendment to section 22D of the Wealth-tax Act under the Finance (No. 2) Act, 1991, a new proviso is added to sub-section (1). This stipulates that the Commissioner must provide a report within 120 days of receiving communication from the Settlement Commission for applications made under section 22C after the Finance Act's presidential assent. If the report is not furnished within this timeframe, the Settlement Commission may proceed without it. Additionally, sub-section (1A) is removed.