Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in any law or contract to the contrary, the Of'mveW. Commissioner may, at any time, by notice in writing, a copy ofwhich shall be forwarded to the person at his last known address, require, - (a) any person from whom any amount of money is due, or may become due, to the person (in this section called "the taxpayer") liable to pay tax, interest or penalties under section 45, or (b) any person who holds or may subsequently hold money, for or, on account of, the taxpayer, to pay, either forthwith upon the money becoming due or being held or within the time specified in the first mentioned notice (but not before the money becomes due or is held as aforesaid) so much ofthe money as is sufficient to pay the anount due by the taxpayer in respect of the arrears of tax, interest and penalty under this Regulation, or the whole of the money when it is equal to or less than that amount. Explnna1ion.- For the purposes of this sub-section, the amount due to a taxpayer from, or money held for or on account of a taxpayer by any person, shall be calculated by the ~oinissione; afler deducting therefrom suih claims, if any, IawfUlly subsisting, as may have fallen due for payment by such taxpayer to such person. (2)The Commissioner may amend or revoke any such notice referred to in this section or extend the time for making any payment in pursuance of the notice. (3) Any person making any payment in compliance with a notice under this section shall be deemed to have made the payment under the authority of the taxpayer, and the receipt thereof by the Commissioner shall constitute a good and sufficient discharge of the liability of such person to the extent of the amount specified in the receipt. (4) Any person discharging any liability to the taxpayer afler receipt of the notice referred to in this section, shall be personally liable to the Commissioner to the extent of the liability dischargedor to the extent ofthe liabilityofthe dealer for taxand penalty, whichever is less. (5) Whereapersonto whom a notice under this section is sent, provesto thesatisfaction ofthe Commissioner that the sum demanded or any part thereof is not due to the taxpayer or that he does not hold any money for or on account of the taxpayer, then, nothing contained in thissection shall bedeemed to require such person to pay any such sum or part thereof, as the case may be, to the Commissioner. (6) Any amount of money which the aforesaid person is required to pay to the Commissioner, or for which he is personally liable to the Commissioner under this section ' .. shall, if it remains unpaid, be recoverable as if arrears of land revenue. (7) The Commissioner may apply to thecourt in whose custody there is money belonging to the taxpayer for payment to him ofthe entire amount ofsuch money or if it is more than the tax, interest and penalty, if any, due, an amount sufficient to discharge such tax and the penalty. -30- I SERIES - I No. : 05 I 1 DATED 18"' AUGUST, 2005.