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of <h1>Section 35 of Wealth Tax Act: Correcting Mistakes in Tax Assessments and Amending Orders within Time Limits</h1> Section 35 of the Wealth Tax Act, 1957, outlines the rectification of mistakes in tax assessments. It allows various tax authorities, including the Assessing Officer, Valuation Officer, and Appellate Tribunal, to amend orders to correct apparent mistakes. Amendments can be initiated by the authority or upon request by the assessee, provided they are notified and given a chance to be heard if the amendment increases their liability. Amendments must be made within four years from the relevant financial year, except in specific cases where a one-year extension is allowed. Written orders are required for any amendments made.
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