Amendment status not verified — confirm the current text below against the official source.
Recovery of tax: - (l) Any tax together with interest and penalty payable uodcr section 3, 5, 11, 12 and 13 of tlus Act, remains unpaid, shall be recovered 111 the manner herem provided- (a) the tax due according 10 the returns filed by an assessee where full payment of such tax under section 4 together interest and penalty has not been made: or (b) tax assessed or reassessed under section I lor 12 or 13 or in pursuance of or as a result of an order on appeal, revision, reference or review, less the sum, if any. already paid by the assessee; or (c) penalty, if any, imposed under any of the provision of this Act, shall be paid by the assessee into a Government Treasury, or in such other manner, as may be prescribed by such date as may be specified in a notice issued by the prescribed authority for this purpose and the date to be so specified shall, ordinarily, not be less than thirty days form the date of service of such notice. No proceeding under sub-section (1) or -(2) of this section shall, be imtrated except before the expiry of eight years from the date of order of the original assessment. (3) Where an observation has been made by the Comptroller and Auditor-General of India, in respect of an assessment or re-assessment made. and the prescribed authority is satisfied with the said observation, he shall proceed to re-assess the assessee with respect to whose assessment or re- assessment, as the case may be, the said observations bas been made. Provided that no order under this section shall be passed without giving the assessee au opportunity of being heard. Provided further if the prescribed authority is not satisfied with such audit objection(s) : the view or the opinion of the commissioner in this regard; shall be final.