Section 160 - Consequential amendments - Direct Tax Laws (Amendment) Act, 1987

160. Consequential amendments. The following amendments (being amendments of a consequential nature) shall be made in the Wealth-tax Act with effect from the 1st day of April, 1989, namely :- (1) in section 5, in sub-section (1), in clause (i), for the proviso, the following proviso shall be substituted, namely :- Provided that nothing contained in this clause shall apply to any property forming part of any business, not being a business, - (a) the income whereof qualifies for deduction under section 80F of the Income-tax Act; or (b) a business carried on by an institution, fund or trust referred to in clause (22) or clause (22A) or clause (23B) or clause (23C) of section 10 of that Act; ; (2) in section 24, in sub-section (1), after the word and figures section 23 , the words, figures and letter or section 23A shall be inserted; (3) in section 35, in sub-section (1),- (a) for clause (b), the following clause shall be substituted, namely :- (b) the Deputy Director or Deputy Commissioner or Director or Commissioner or Deputy Commissioner (Appeals) or Commissioner (Appeals) may amend any order passed by him under section 18A; ; (b) for clauses (d) and (e), the following clauses shall be substituted, namely :- (c) the Deputy Commissioner (Appeals) or Commissioner (Appeals) may amend any order passed by him under section 23 or section 23A; (d) the Commissioner may amend any order passed by him under section 25; (e) the Appellate Tribunal may amend any order passed by it under section 24. .