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<h1>Wealth-tax Act Amendment Streamlines Assessment Procedures by Modifying Language and Introducing Mandatory Reason Recording</h1> The amendment modifies section 17 of the Wealth-tax Act, replacing the phrase 'for reasons to be recorded by him in writing, is of the opinion' with 'has reason to believe' and adding a requirement for the Assessing Officer to record reasons before issuing a notice. This change aims to enhance procedural clarity and transparency in tax assessment processes.