70[Abatement of the proceeding before Settlement
Commission.
22HA. (1)
Where,—
(i) an application made under section 22C on or
after the 1st day of June, 2007 has been rejected under sub-section (1) of
section 22D; or
(ii) an application made under section 22C has not
been allowed to be proceeded with under sub-section (2A) or further proceeded
with under sub-section (2D) of section 22D; or
(iii) an application made under section 22C has been
declared as invalid under sub-section (2C) of section 22D; or
(iv) in respect of any other application made under
section 22C, an order under sub-section (4) of section 22D has not been passed
within the time or period specified under sub-section (4A) of section 22D,
the proceedings before the Settlement
Commission shall abate on the specified date.
Explanation.—For the purposes of this
sub-section, “specified date” means—
(a) in respect of an application referred to in
clause (i), the date on which the application was rejected;
(b) in respect of an application referred to in
clause (ii), the 31st day of July, 2007;
(c) in respect of an application referred to in
clause (iii) the last day of the month in which the application was
declared invalid;
(d) in respect of an application referred to in
clause (iv), the date on which the time or period specified in
sub-section (4A) of section 22D expires.
(2) Where a proceeding before the Settlement
Commission abates, the Assessing Officer, or, as the case may be, any other
wealth-tax authority before whom the proceeding at the time of making the
application was pending, shall dispose of the case in accordance with the
provisions of this Act as if no application under section 22C had been made.
(3) For the purposes of sub-section (2), the
Assessing Officer, or, as the case may be, other wealth-tax authority, shall be
entitled to use all the material and other information produced by the assessee
before the Settlement Commission or the results of the inquiry held or evidence
recorded by the Settlement Commission in the course of the proceedings before
it, as if such material, information, inquiry and evidence had been produced
before the Assessing Officer or other wealth-tax authority or held or recorded
by him in the course of the proceedings before him.
(4) For the
purposes of the time-limit under sections 17A, 32, and 35 and for the purposes
of payment of interest under section 34A, in case referred to in sub-section
(2), the period commencing on and from the date of the application to the
Settlement Commission under section 22C and ending with “specified date”
referred to in sub-section (1) shall be excluded.