Amendment status not verified — confirm the current text below against the official source.
Effect of transactions not bonafide.- Where the Government is of opinion that the grantee or any other person has on or after the appointed day disposed of any fixed asset, whether by way of sale, exchange, gift, lease or otherwise, or incurred any expenditure, liability or obligation otherwise than in the normal course of events, with a view to benefit unduly such person and thereby caused loss to the Government as succeeding owners of the property, the Government shall be entitled to deduct from the amount payable to the grantee under this Act, an amount which they consider to be the loss sustained by them: Provided that before making such deduction, the grantee shall be given a notice to show cause against such deductions, within a period of thirty days from the date of receipt of such notice.