TaxTMI 
TaxTMI 
Application for settlement of cases
X X X X Extracts X X X X
X X X X Extracts X X X X
....fter provided : ^4[Provided that no such application shall be made unless such wealth-tax and the interest thereon, which would have been paid under the provisions of this Act had the wealth declared in the application been declared in the return of wealth before the Assessing Officer on the date of application, has been paid on or before the date of making the application and the proof of such payment is attached with the application.] (1A) For the purposes of sub-section (1) of this section ^5[***] the additional amount of wealth-tax payable in respect of the wealth disclosed in an application made under sub-section (1) of this section shall be the amount calculated in accordan....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nbsp; (c) ^8[***] (1D) Where the wealth disclosed in the application relates to more than one assessment year, the additional amount of wealth-tax payable in respect of the wealth disclosed for each of the years shall first be calculated in accordance with the provisions of sub-sections (1B) and (1C) and the aggregate of the amount so arrived at in respect of each of the years for which the application has been made under sub-section (1) shall be the additional amount of wealth-tax payable in respect of the wealth disclosed in the application. (1E) Where any books of account or other documents belonging to an assessee are seized under section 37A, the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....erted by the Finance Act, 1987, w.e.f. 1-6-1987, read as under : "Provided that no such application shall be made unless the assessee has furnished the return of wealth which he is or was required to furnish under any of the provisions of this Act." 5. Omitted vide Finance Act, 2007, w.e.f. 1-6-2007. Before it was read as:- "and sub-sections (2A) to (2D) of section 22D" 6. Substituted vide Finance Act, 2007, w.e.f. 1-6-2007. Before substitution, sub-section (1B), as substituted by the Finance Act, 1987, w.e.f. 1-6-1987, read as under : "(1B) Where the wealth disclosed in the application relates to only one previous year,- (i) if the applicant has not furnished a return in respect of the net wealth of that year (w....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... and (b) in a case referred to in clause (c) of sub-section (1B), be reduced by the aggregate of the wealth-tax referred to in clause (a) and the wealth-tax, if any, paid by the applicant in pursuance of the assessment made in respect of the net wealth for that year, and the amount referred to in clause (a) of sub-section (1B) or, as the case may be, the resultant amount arrived at under clause (a) or clause (b), as the case may be, shall be the additional amount of wealth-tax payable in respect of the wealth disclosed in the application relating to that year." 8. Omitted vide Finance Act, 2007, w.e.f. 1-6-2007. Before omission, clause (c) read as under : "(c) in a case referred to in clause (iii) of that sub-section, the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....osure of wealth which has not been disclosed before the Assessing Officer, the manner in which such wealth has been derived and the additional amount of wealthtax payable on such wealth [See Notes 9 and 10] Signed (Applicant) Verification do hereby solemnly declare that to the best of my knowledge and belief, what is stated above and in the Annexure [including the statement(s) and documents accompanying such Annexure] is correct and complete. I further declare that I am making this application in my capacity as (designation) and that I am competent to make this application and to verify it. , son/daughter/wife of I, the day of Verified today, 20 . Place . Signed (Applicant) Page 1 of 2 Notes: 1. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....and complexities of the investigation involved must be indicated against item 10. Where the application relates to more than one assessment year, these details should be furnished for each assessment year. 8. The application for settlement of a case shall not be allowed to be withdrawn by the applicant. 9. The additional amount of wealthtax payable on the wealth referred to in item 11 should be calculated in the manner laid down in sub-sections (1A) to (1D) of section 22C. 10. The details referred to in item 11 shall be given in the Annexure to this application. ANNEXURE Statement containing particulars referred to in item 11 of the application under section 22C(1) of the Wealth- tax Act, 1957 1. tax Act, 1957 Wealth whic....