Clause 62 - Amendment of Section 42D - WT Act - Finance Bill, 2008

62. Section 42D of the Wealth-tax Act shall be renumbered as sub-section ( 1 ) thereof and after subsection ( 1 ) as so renumbered, the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1 st day October, 1975, namely:— ''( 2 ) Where any books of account, other documents or assets have been delivered to the requisitioning officer in accordance with the provisions of section 37B, then, the provisions of subsection ( 1 ) shall apply as if such books of account, other documents or assets which had been taken into custody from the person referred to in clause ( a ) or clause ( b ) or clause ( c ), as the case may be, of sub-section ( 1 ) of section 37B, had been found in the possession or control of that person in the course of a search under section 37A.".