Chapter
III
30[Wealth-tax authorities and their
jurisdiction.
8. The income-tax authorities specified in section
116 of the Income-tax Act shall be the wealth-tax authorities for the purposes
of this Act and every such authority shall exercise the powers and perform the
functions of a wealth-tax authority under this Act in respect of any
individual, Hindu undivided family or company, and for this purpose his
jurisdiction under this Act shall be the same as he has under the Income-tax
Act by virtue of orders or directions issued under section 120 of that Act (including
orders or directions assigning concurrent jurisdiction) or under any other
provision of that Act.
Explanation.—For the purposes of this section, the wealth-tax authority having
jurisdiction in relation to a person who is not an assessee within the meaning of
the Income-tax Act shall be the wealth-tax authority having jurisdiction in
respect of the area in which that person resides.]
