Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything to the contrary contained in any Central Act or State Act, any amount of duty, penalty, interest or any other sum payable by an assessee or any other person under this Act, shall, save as otherwise provided in section 529A of the Companies Act, 1956 (1 of 1956), the Recovery of Debts Due to Banks and the Financial Institutions Act, 1993 (51 of 1993), [the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002) and the Insolvency and Bankruptcy Code, 2016], be the first charge on the property of the assessee or the person, as the case may be.] Ins. Act 8 of 2011, sec. 51, (w.e.f. 08/04/2011). Sub. by the Insolvency and Bankruptcy Code, 2016, sec. 248 and fourth Sch.