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of <h1>Wealth Tax Act, 1957: Section 37 Empowers Tax Authorities with Court-Like Powers for Investigations and Inquiry.</h1> Section 37 of the Wealth Tax Act, 1957, grants certain authorities, including the Assessing Officer and the Appellate Tribunal, powers akin to those of a court under the Code of Civil Procedure, 1908. These powers include discovery and inspection, enforcing attendance, examining individuals on oath, compelling document production, and issuing commissions. Additionally, if certain tax authorities suspect concealed wealth, they can exercise these powers for inquiry or investigation. Authorities can impound documents but must record reasons and obtain approval for retention beyond fifteen days. Proceedings under this Act are considered judicial proceedings under specific sections of the Indian Penal Code.
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