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of <h1>Section 22HC: Wealth-tax Act Details When Settlement Commission Proceedings Abate and Role of Assessing Officer in Such Cases</h1> Section 22HC of the Wealth-tax Act, effective from June 1, 2007, outlines circumstances under which proceedings before the Settlement Commission will abate, including rejected applications under section 22C or those not allowed to proceed. The 'specified date' for abatement varies based on the application's status. If proceedings abate, the Assessing Officer or relevant authority will handle the case as if no application was made, utilizing any materials submitted to the Settlement Commission. Time limits for certain sections and interest payments exclude the period from application to the specified date. Section 22HAA provides for tax credit in cases of abatement.
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