22B. 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.
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. 1. The proviso omitted by Act 25 of 2014, s. 77 (w.e.f. 1-10-2014). Earlier it was amended by Act 14 of 2010, s. 53 (w.e.f. 1-6-2010). 2. Subs. by s. 77, ibid., for “clause (i) of the proviso shall, in case where a notice under section 17” (w.e.f. 1-10-2014). 3. Subs. by s. 77, ibid., for clause (ii) (w.e.f. 1-10-2014). 4. Subs. by Act 14 of 2010, s. 53, for clasue (iii) (w.e.f. 1-6-2010). 5. Subs. by Act 25 of 2014, s. 77, for “clause (i) or clause (ii) of the proviso or clause (iii) of the Explanation” (w.e.f. 1-10-2014). Ealier it was amended by Act 14 of 2010, s. 53 (w.e.f. 1-6-2010). 6. Ins. by Act 22 of 2007, s. 84 (w.e.f. 1-6-2007). 7. The brackets and words “(hereafter in this Chapter referred to as “the Settlement Commission”)” omitted by Act 11 of 1987, s. 78 (w.e.f. 1-6-1987). 8. Subs. by Act 46 of 1986, s. 35, for “and two other members” (w.e.f. 10-9-1986). * * * * *
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. * * * * * [22BA. Jurisdiction and powers of Settlement Commission.—(1) Subject to the other provisions of this Chapter, the jurisdiction, powers and authority of the Settlement Commission may be exercised by Benches thereof.
Subject to the other provisions of this section, a Bench shall be presided over by the Chairman or a Vice-Chairman and shall consist of two other Members.
The Bench for which the Chairman is the Presiding Officer shall be the principal Bench and the other Benches shall be known as additional Benches.
Notwithstanding anything contained in sub-sections (1) and (2), the Chairman may authorise the Vice-Chairman or other Member appointed to one Bench to discharge also the functions of the Vice-Chairman or, as the case may be, other Member of another Bench.
Notwithstanding anything contained in the foregoing provisions of this section, and subject to any rules that may be made in this behalf, when one of the persons constituting a Bench (whether such person be the Presiding Officer or other Member of the Bench) is unable to discharge his functions owing to absence, illness or any other cause or in the event of the occurrence of any vacancy either in the office of the Presiding Officer or in the office of one or the other Members of the Bench, the remaining two persons may function as the Bench and if the Presiding Officer of the Bench is not one of the remaining two persons, the senior among the remaining persons shall act as the Presiding Officer of the Bench:
Provided that if at any stage of the hearing of any case or matter, it appears to the Presiding Officer that the case or matter is of such a nature that it ought to be heard by a Bench consisting of three Members, the case or matter may be referred by the Presiding Officer of such Bench to the Chairman for transfer to such Bench as the Chairman may deem fit. [(5A) Notwithstanding anything contained in the foregoing provisions of this section, the Chairman may, for the disposal of any particular case, constitute a Special Bench consisting of more than three Members.]
Subject to the other provisions of this Chapter, the places at which the principal Bench and the additional Benches shall ordinarily sit, shall be such as the Central Government may, by notification in the Official Gazette, specify [and the Special Bench shall sit at a place to be fixed by the Chairman]. 1. Sub-section (2A) omitted by Act 46 of 1986, s. 35 (w.e.f. 10-9-1986). Earlier sub-section (2A) was inserted by Act 14 of 1982, s. 36 (w.e.f. 1-4-1982). 2. Ins. by s. 35, ibid. (w.e.f. 10-9-1986). 3. The second proviso omitted by s. 35, ibid. (w.e.f. 10-9-1986). 4. Ins. by Act 11 of 1987, s. 79 (w.e.f. 1-6-1987). 5. Ins. by Act 49 of 1991, s. 77 (w.e.f. 1-10-1991).