Amendment status not verified — confirm the current text below against the official source.
Substituted for the words “an amount not exceeding fifty thousand rupees” vide H.P. Act No. 20 of 2002. THE HIMACHAL PRADESH MOTOR VEHICLES TAXATION ACT, 1972 13 (3) The taxation authority may, by an order in writing for good and sufficient cause and after giving the owner a reasonable opportunity of being heard, forfeit the whole or any part of the security furnished by such owner for realising any amount of tax, interest or penalty payable by him under this Act. (4) Where by reason of an order under sub-section (3), the security furnished by such owner is rendered insufficient; he shall make up the deficiency in such manner and within such time as may be prescribed. (5) The taxation authority may, on an application by such owner, release the security furnished by him or any part thereof, if the same is no longer required to be retained for the purposes of this Act. 1[(6) Where an owner makes default in the payment of tax or penalty under this Act, for a continuous period of two months or more and makes a request to allow him to deposit the tax and penalty due, in installments, the taxation authority may, after obtaining surety bond equal to the amount of tax or penalty due from him, allow such owner to deposit the outstanding tax and penalty thereon, in six monthly installments, subject to the condition that such owner deposits twenty five percent of the amount of tax and penalty due, immediately as the first installment.]. 7-B. Maintenance of accounts and determination of tax.- (1) An owner of a transport vehicle may be required to maintain such accounts as may be prescribed and to submit the same to the taxation authority as and when required. (2) If the taxation authority is satisfied that tax has not been correctly paid or the owner has not furnished declaration as provided in sub-section (1) of section 4-A or has given inaccurate particulars in the declaration, he shall, after giving the owner a reasonable opportunity of being heard, proceed to determine the amount of tax due and recover the same. 7-C. Re-determination of tax.- (1) If in consequence of any information, the taxation authority discovers that the tax due from the owner has been under-determined or escaped determination in any year, the taxation authority may, at any time, within five years following the closure of the year for which re-determination is to be made and after giving the owner, in the manner prescribed, a reasonable opportunity of being heard, proceed to re- determine the tax payable. (2) The taxation authority may, at any time, within one year from the date of any order passed by him and subject to such conditions as may be prescribed, rectify any clerical or arithmetical error apparent from the record.]