Section 22B - Wealth-tax Settlement Commission - Wealth Tax Act, 1957

Wealth-tax Settlement Commission. 22B. (1) The Central Government shall constitute a Commission to be called the Wealth-tax Settlement Commission 1 [***] for the settlement of cases under this Chapter. (2) The Settlement Commission shall consist of a Chairman 2 [and as many Vice-Chairmen and other members as the Central Government thinks fit] and shall function within the Department of the Central Government dealing with direct taxes. (2A) 3 [* * *] (3) The Chairman 4 [,Vice-Chairman] and other members of the Settlement Commission shall be appointed by the Central Government from amongst persons of integrity and outstanding ability, having special knowledge of, and experience in, problems relating to direct taxes and business accounts : Provided that, where a member of the Board is appointed as the Chairman 5 [, Vice-Chairman] or as a member of the Settlement Commission, he shall cease to be a member of the Board. 6 [ * * * ] ---------------------------- Notes:- 1. Omitted vide the Finance Act, 1987, w.e.f. 1-6-1987. Before it was read as:- '(hereafter in this Chapter referred to as "the Settlement Commission")' 2. Substituted vide Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. Before it was read as:- "and two other members" 3. Omitted vide the Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. Before omission, sub-section (2A), as inserted by the Finance Act, 1982, w.e.f. 1-4-1982, stood as under: "(2A) Notwithstanding anything contained in sub-section (2), when the post of one of the other members of the Settlement Commission is vacant for any reason, the Chairman and the other member of the Settlement Commission may function as, and exercise and discharge the powers and functions of, the Settlement Commission under this Chapter : Provided that if in any case the Chairman and member so functioning differ on any point or points, they shall state the point or points on which they differ and refer the same, as soon as may be after the said vacancy is filled, to the member appointed to fill the vacancy for hearing on such point or points and such point or points shall be decided according to his opinion." 4. Inserted vide the Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. 5. Inserted vide Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. 6. Omitted vide the Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. Before omission, the second proviso stood as under: " Provided further that until the members are appointed under this sub-section, it shall be competent for the Central Government to require, from time to time, any two members of the Board to serve as members of the Settlement Commission for such period as the Central Government thinks fit, in addition to their duties as members of the Board."