TMI BlogApplication for settlement of casesX X X X Extracts X X X X X X X X Extracts X X X X ..... 4 [Provided that no such application shall be made unless such wealth-tax and the interest thereon, which would have been paid under the provisions of this Act had the wealth declared in the application been declared in the return of wealth before the Assessing Officer on the date of application, has been paid on or before the date of making the application and the proof of such payment is attached with the application. ] (1A) For the purposes of sub-section (1) of this section 5 [ *** ] the additional amount of wealth-tax payable in respect of the wealth disclosed in an application made under sub-section (1) of this section shall be the amount calculated in accordance with the provisions of sub-sections (1B) to (1D). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount so arrived at in respect of each of the years for which the application has been made under sub-section (1) shall be the additional amount of wealth-tax payable in respect of the wealth disclosed in the application. (1E) Where any books of account or other documents belonging to an assessee are seized under section 37A, the assessee shall not be entitled to make an application under sub-section (1) before the expiry of one hundred and twenty days from the date of the seizure. (2) Every application made under sub-section (1) shall be accompanied by such fees as may be prescribed. (3) An application made under sub-section (1) shall not be allowed to be withdrawn by the applicant. 9 [ (4) An asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1B), as substituted by the Finance Act, 1987, w.e.f. 1-6-1987, read as under : "(1B) Where the wealth disclosed in the application relates to only one previous year, ( i ) if the applicant has not furnished a return in respect of the net wealth of that year (whether or not an assessment has been made in respect of the net wealth of that year), then, except in a case covered by clause ( iii ), wealth-tax shall be calculated on the wealth disclosed in the application as if such wealth were the net wealth ; ( ii ) if the applicant has furnished a return in respect of the net wealth of that year (whether or not an assessment has been made in pursuance of such return), wealth-tax shall be calculated on the aggregate of the net wealt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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