Wealth-tax notice requirement: issue notices under the Wealth Tax Act when unexplained jewellery or property is found to secure ownership particulars.
Where searches uncover unexplained jewellery or immovable property indicating assessable wealth, the value may be treated as deemed income for the year; officers must obtain from the assessee an advance, specific commitment as to items and market value and issue the Wealth Tax Act notice to prevent escape from assessment and record ownership particulars.

Ascertained liability for bond discount allows deduction in year of issue rather than year of resumption.
When debentures are issued on discount by a financial institution, the discount becomes an ascertained liability in the year of issue, and the loss represented by that discount is deductible in the year of issue rather than deferred.

Dairy farming exemption applies when principal business is milk production; ownership of cattle is not required for eligibility.
Exemption for dairy farming applies where the principal business is milk production; ownership of cattle is not required if the assessee carries out production activities such as growing suitable fodder and providing cowsheds and veterinary services. Mere buying and selling of milk does not constitute dairy farming and is excluded from the exemption.

Intimation of death to estate duty authorities required to protect revenue and prompt appeals against limitation-barred assessments.
Prompt and mandatory communication of an assessee's death to the Assistant Controller of Estate Duty must be ensured by ITOs/Wealth-tax Officers to prevent loss of revenue caused by failure to initiate proceedings within the prescribed period; officers responsible for lapses are to be disciplined. Where an assessment on a voluntary return filed after five years from death is treated as barred by limitation under section 73A of the Estate Duty Act, such cancellations should be contested on appeal; Assistant and Deputy Controllers must enforce compliance.

Irrecoverable arrears: directive to strengthen zonal committee reviews and annual reporting to expedite write-offs by commissioners.
The Board directs Commissioners to ensure Zonal Committees meet regularly to review arrear demands above the prescribed threshold, recommend write-offs or scaling down of irrecoverable portions, and to submit an annual statement on the Zonal Committee's progress to the D.I.(R.S. & P.) by 15th April in the prescribed proforma.

Maintenance of registers for wealth tax petitions required, mirroring income tax disclosure procedure and immediate compliance directed.
Registers must be maintained for disclosure petitions filed under section 18(2A) of the Wealth Tax Act before Commissioners of Wealth-tax, using the two-register proforma previously prescribed for disclosure petitions under the Income-tax Act with suitable modifications in column wordings; the procedural directions in the earlier instruction are to be followed for wealth-tax purposes and immediate action is required.