(2)he, in the course of the search, makes a statement under sub-section (4) of section 37-A that any money, bullion, jewellery or other valuable article or thing found in his possession or under his control, forms part of his net wealth which has not been disclosed so far in his return on net wealth to be furnished before the expiry of the time specified in sub-section (1) of section 14, and also specifies in the statement the manner in which such net wealth has been acquired and pays the tax, together with interest, if any, in respect of such net wealth.][ Explanation 6.-Where any adjustment is made in the wealth declared in the return under the proviso to clause (a) of sub-section (1) of section 16 and additional wealth-tax charged under that section, the provisions of this sub¬section shall not apply in relation to the adjustments so made.] [ Inserted by Act 3 of 1989, Section 68 (w.e.f. 1.4.1989).][(1-A) Where any amount is added or disallowed in computing the net wealth of an assessee in any order of assessment or re-assessment and the said order contains a direction for initiation of penalty proceedings under clause (c) of sub-section (1), such an order of assessment or re-assessment shall be deemed to constitutes satisfaction of the Assessing Officer for initiation of the penalty proceedings under the said clause (c).] [ Inserted by Act 18 of 2008, Section 62 (w.r.e.f. 1.4.1989).]
