Wealth Tax-Scrutiny cases.

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Full Text of the Document

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.... evidence in support of the return. Cases where the returned wealth exceeds Rs. 5 lakhs, the assessments should be made after proper enquiry. 2. In view of the provisions of new Section 16 of the Wealth-tax Act, substituted by the Direct Tax Laws (Amendment) Act, 1987, which provide for prima facie adjustments under section 16(1)(a), and also following changes in the procedure for selecting scr....