11 Jurisdiction of Assessing Officers and power to transfer cases

11. Jurisdiction of Assessing Officers and power to transfer cases.

11. Jurisdiction of Assessing Officers and power to transfer cases. —(1) The provisions of sections 124 and 127 of the Income-tax Act shall, so far as may be, apply for the purposes of this Act as they apply for the purposes of the Income-tax Act, subject to the modifications specified in sub-section (2).

(2) The modifications referred to in sub-section (1) shall be the following, namely:—

(a) in section 124 of the Income-tax Act,—

(i) in sub-section (3), references to the provisions of the Income-tax Act shall be construed as references to the corresponding provisions of the Wealth-tax Act;

(ii) sub-section (5) shall be omitted:

(b) in section 127 of the Income-tax Act, in the Explanation below sub-section 2[(4)], references to proceedings under the Income-tax Act shall be construed as including references to proceedings under the Wealth-tax Act.