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of <h1>Wealth-tax Act Amendment: Section 37 Expands Investigative Powers for Proactive Wealth Concealment Detection</h1> The amendment to section 37 of the Wealth-tax Act inserts new sub-section (1A) empowering the Director General, Director, or authorized officer to exercise investigative powers when they suspect concealment of wealth, even without pending proceedings. Sub-section (2) is removed entirely. Sub-section (3) is modified to reference the new sub-section (1A) and expand authority to Assistant Directors. These changes enhance tax authorities' ability to investigate suspected wealth concealment proactively without waiting for formal proceedings to commence.
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