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Exemption from wealth-tax in respect of assets spefified in declaration.

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..... her assets specified in the declaration made under section 183- (a) in respect of which the declarant has failed to furnish a return under section 14 of the Wealth-tax Act, 1957, (27 of 1957) for the assessment year commencing on or before the 1st day of April, 2015; or (b) which have not been shown in the return of net wealth furnished by him for the said assessment year or years; or (c) .....

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..... eclarant for the said assessment year or years. Explanation .-Where a declaration under section 183 is made by a firm, the assets referred to in sub-clause (i) or, as the case may be, the amount referred to in sub-clause (ii) shall not be taken into account in computing the net wealth of any partner of the firm or, as the case may be, in determining the value of the interest of any partner i .....

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