Wealth-tax exemption power allows targeted modifications for certain Union territories, limited in duration and subject to rescission. Section 46A empowers the Central Government to issue general or special orders granting exemptions, reductions in rate or other modifications of wealth-tax for specified Union territories to avoid hardship, anomaly or remove difficulties arising from the Act; such orders may apply to any class of assets or to the whole or part of an assessee's net wealth and, as to Pondicherry, to implement the Treaty of Cession; the power is subject to a temporal limitation permitting only rescission after the terminal date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth-tax exemption power allows targeted modifications for certain Union territories, limited in duration and subject to rescission.
Section 46A empowers the Central Government to issue general or special orders granting exemptions, reductions in rate or other modifications of wealth-tax for specified Union territories to avoid hardship, anomaly or remove difficulties arising from the Act; such orders may apply to any class of assets or to the whole or part of an assessee's net wealth and, as to Pondicherry, to implement the Treaty of Cession; the power is subject to a temporal limitation permitting only rescission after the terminal date.
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