(2)

In particular, and without prejudice to the generality of the foregoing power, rules made under this section may provide for¬

(a) the manner in which the market value of any asset may be determined;

(b) the form in which returns under this Act shall be made and the manner in which they shall be verified;

(c) the form in which appeals and applications under this Act may be made, and the manner in which they shall be verified;

(d) the form of any notice of demand under this Act;

(e) [ the areas within which Valuation Officers may exercise jurisdiction; [ Substituted by Act 45 of 1972, Section 19, for Clause (e) (w.e.f. 15.11.1972).]

(f) any other matter which has to be, or may be, prescribed for the purposes of this Act.

(3)

[ The power to make rules conferred by this section shall include the power to give retrospective effect, from a date not earlier than the date of commencement of this Act, to the rules or any of them and, unless the contrary is permitted (whether expressly or by necessary implication), no retrospective effect shall be given to any rule so as to prejudicially affect the interests of assessees.] [ Substituted by Act 26 of 1974, Section 17, for sub-Section (3)(w.e.f. 18.8.1974).]

(4)

[ The Central Government shall cause every rule made under this Act ] [Substituted by Act 46 of 1964, Section 40 (w.e.f. 1.4.1965). ][and the rules of procedure framed by the Settlement Commission under sub¬-section (7) of section 22-F] [ Inserted by Act 32 of 1994, Section 53 (w.e.f. 1.6.1994).] [to be laid as soon as may be after it is made before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session ] [Substituted by Act 46 of 1964, Section 40 (w.e.f. 1.4.1965). ] [or in two or more successive sessions] [ Substituted by Act 41 of 1975, Section 105, for " or in two successive sessions " (w.e.f. 1.4.1976).] [, and if before the expiry of the session ] [Substituted by Act 46 of 1964, Section 40 (w.e.f. 1.4.1965). ][immediately following the session or the successive sessions aforesaid] [ Substituted by Act 41 of 1975, Section 105, for " in which it is so laid or the session immediately following " (w.e.f. 1.4.1976).] [both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be, so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.] [Substituted by Act 46 of 1964, Section 40 (w.e.f. 1.4.1965). ]

[46-A. Power to make exemption, etc., in relation to certain Union Territories

.-If the Central Government considers it necessary or expedient so to do for avoiding any hardship or anomaly or removing any difficulty that may arise as a result of the application of this Act to the Union territories of Dadra and Nager Haveli, Goa, Daman and Diu, and Pondicherry, or in the case of the Union territory of Pondicherry, for implementing any provision of the Treaty of Cession concluded between France and India on the 28th day of May, 1956, that Government may, by general or special order, make an exemption, reduction in rate or other modification in respect of wealth-tax in favour of any class of assets or in regard to the whole or any part of the net wealth of any assessee or class of assessees:

Provided that the power conferred by this section shall not be exercisable after the 31st day of March, 1967 except for the purpose of rescinding an exemption, reduction or modification already made.]