Amendment status not verified — confirm the current text below against the official source.
23 (iii) after clause (ii), ihe IolovJing claL.rse shaLl be nserted, namelyr. '(iii) ii ihe dealer faiLs io pay ihe assessed iax or penaliy or boih wilhin lhe llme prescribed under clause (i), the prescribed authority may. afler provlding an opporiunily oi being heard, pass an order lo close down ihe businessof thedeiaulertl lheduetaxorpenaltyorboth spaid,andlhe icensing a!thority unde r any olher law ror lhe t me belng in force, if any, shal sLrspend the trade lcense l jlihe order remains in force.' in the sald Aci, in secton 42,- (i) sLrb'sectiolr (1) shall be omitled ; (il) in sub'section (2),' {a) lor the \,1/ord and figures "section 39 lhe words and i g!res "section 38 and section 40", shall be substituted ; (b) n c ause (a) and clause (b), alter the words "assessmenl is Tnade", ihe words 'or was to have been made' sha I be inseried i (ii) sLrb'section (3) shallbe omilled. ln the said Act, aitersection42, the followlng new secton shal be inseded, namely,- "42A. Reassessment' (1) Anyassessmentfiradeon anydealermaybe Teopenedlorreassessment by the same prescribed or the assessing aLrlhoriiy who made ihe assessment or by such higher auihority nexl lo the authorlly who made the assessmenti Provided that no reassessment shall be made unLess new and relable facl or lacts are dlscovered sLJbsequent to the assessment that was made, ,rhich shall be recorded ln writlng by ihe authorlly mak ng reassessment, and a notlce to thal effect is given lo the assessee. (2) A prlor permssion in wrlling oJ the Commissioner or the authorly ar.rlhorized by hlm sha I be obtained by the assessing authority beiore iniliating the proceedings oi reassessment. (3) No reassessmentshal be made afler lhree years from the date oi passing ol the order ol lhe assessment." ln the sald Aci, ln sub-section (3) ol section 43, ihe igure '39" sha b-" omitted. !n thesaid Act, aftersecllon 53, the following new seciicn shallbe nse(ed, namely,- "53,q. Bar on issue ol prescribed declaration Forms or suspension otsLlch Forms- lf any dea er or person lalls, a{ter expjry of a due date oi a not ce lor paynrenl oflax or interesl or pena ty requlred to be paid under thls Chapter or the Act, the issue o{ prescribed Forms of declaTation of purchases or \,!aybil s, whether interslaie or ntra-state, shall be wiihheld, or lmport oi goods, even lf declared in the prescribed Forms, shalLbe sLrspended until payment is made of dLre tax or interesl or penalty, as the case may be.' in the said Act, in seclion 54,- (i) rn sub-section (1), ailer the words "to lurnish rei!rn" and beJore the words and flgures 'Lrnder secllon 30", the words' or quarterly abstracl siatemenl', shal be lnsened; (ii) in sLrb-section (3), the followng words and punclualion malks sha be omitted, nameLy:' 6