39[Jurisdiction of Assessing Officers and power to transfer cases.

11.    (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 40[(4)], references to proceedings under the Income-tax Act shall be construed as including references to proceedings under the Wealth-tax Act.]