The proposed amendment seeks to amend/add the following two provisos:
“Provided that notwithstanding anything contained in any other law for the time being in force, if a defaulter sells or transfers ownership of his assets, the defaulted amount of duty and taxes shall be the first charge on the business so transferred.
“Provided that if any arrears which may be payable by way of duty, surcharge, fee, service charges, fine or penalty or any other amount which is adjudged or payable under any bond, guarantee or other instrument executed under this Act or the rules made there under, cannot be recovered, the Board or any officer authorized by the Board, may for reasons to be recorded, write off the arrears in the manner as may be prescribed by rules. |
Mr. Gohar Manzoor
