Amendment status not verified — confirm the current text below against the official source.
POWER TO assess IN CASE OF ESCAPE FROM ASSESSMENT.— Notwithstanding anything to the contrary contained in this Act or the rules made thereunder, where for any reason a person liable to pay any tax or fees leviable under this Chapter has escaped assessment in any half- year, the Secretary may at any time within four years from the date on which such person should have been assessed, serve on him a notice asseessing to the tax or fee due and demanding payment thereof within fifteen days from the date of such service and thereupon the provisions of this Act and the rules made thereunder shall, so far as may be, apply as if the assessment was made in the half-year to which the tax or fee relates. 63 63[283. Municipal Fund— (1) All moneys received by a Municipality under this Act or the rules made there under or any other law for the time being in force, shall constitute a fund which shall be called the Municipal Fund and shall be utilised and disposed of subject to the provisions of this Act or any other laws. (2) The items of income to be credited to the Municipal Fund consist of the following, namely:—