Wealth Tax-Scrutiny cases.

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..... rned wealth exceeds Rs. 5 lakhs, the assessments should be made after proper enquiry. 2. In view of the provisions of new Section 16 of the Wealth-tax Act, substituted by the Direct Tax Laws (Amendment) Act, 1987, which provide for prima facie adjustments under section 16(1)(a), and also following changes in the procedure for selecting scrutiny cases under the Income-tax, the above instructions i .....

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..... r scrutiny, will be as provided in section 8 of the Wealth Tax Act. Thus, howsoever high the net wealth of an assessee is, if the income of that assessee is not high enough to make it assessable with a Deputy Commissioner of Income-tax, the jurisdiction over the wealth tax case would vest with the Income-tax Officer only. 5. This may be brought to the notice of all officers under your charge.
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