The Wealth-Tax Act, 1957Central Act · Act 27 of 1957
Wealth-tax Settlement Commission.
(1) The Central Government shall constitute a Commission to be called the Wealth-tax Settlement Commission [***] for the settlement of cases under this Chapter.
(2) The Settlement Commission shall consist of a Chairman [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) The Chairman [, 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 [, Vice-Chairman] or as a member of the Settlement Commission, he shall cease to be a member of the Board.
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
omitted. '(hereafter in this Chapter referred to as "the Settlement Commission")' omitted by the Finance Act, 1987, w.e.f. 1-6-1987.
substituted. Substituted for "and two other members" by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986.
substituted. Omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. Prior to its 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 membe…
inserted. Inserted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986.
inserted. Inserted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986.
substituted. Omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986. Prior to its 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 su…
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you
