Exemption from wealth-tax in respect of assets specified in declaration

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....rom other persons, commodities or any other assets specified in the declaration made under sub-section (1) of section 64 - (a) in respect of which the declarant has failed to furnish a return under section 14 of the Wealth-tax Act for the assessment year commencing on the 1st day of April, 1997, or any earlier assessment year or years, or (b) which have not been shown in the return of net weal....

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....account in computing the net wealth of the declarant for the said assessment year or years. (iii) the value of the jewellery or bullion so declared shall be taken to be its market value as on the 1st day of April, 1987, where the disclosure is made in respect of an assessment year earlier than assessment year 1987-88, and for the purposes of this Chapter the expression "jewellery" shall have the....