https://www.taxtmi.com/acts?id=6370 Section 218 authorises penalty in addition to any wealth-tax where an assessing or appellate authority is satisfied that a person failed to comply with specified notices or concealed or furnished inaccurate particulars of assets or debts; added or disallowed amounts in computing net wealth or valuation shortfalls may be deemed concealment; assets found in search are treated as concealed unless previously recorded or disclosed or regularised during the search; a reasonable opportunity to be heard is required and limits and procedural safeguards apply to officers imposing penalties and to limitation periods for initiating proceedings. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 11 Sep 2012 11:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6370 Section 218 authorises penalty in addition to any wealth-tax where an assessing or appellate authority is satisfied that a person failed to comply with specified notices or concealed or furnished inaccurate particulars of assets or debts; added or disallowed amounts in computing net wealth or valuation shortfalls may be deemed concealment; assets found in search are treated as concealed unless previously recorded or disclosed or regularised during the search; a reasonable opportunity to be heard is required and limits and procedural safeguards apply to officers imposing penalties and to limitation periods for initiating proceedings. Act-Rules Wealth-tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6370