Amendment status not verified — confirm the current text below against the official source.
(1) A registered dealer in respect of such and industrial unit in West Bengal as the State remission of tax for sick Government may, by general or special order, industrial declare as a sick unit shall, subject to the other units. provisions of this section, be eligible for deferment of payment of tax or remission of tax according to the provisions of section 1OF or section 10G, as the case may be, where such unit is rehabilitated or revived by such dealer himself on or after the 1st day of April, 1993, under any scheme approved by the State Government. (2) The benefit of the deferment of payment of tax or remission of tax, as the case may be, referred to in sub- section (1), shall be available to a new owner of the business relating to such unit if the ownership of such business is taken over by, and transferred to, such new owner and registered as transferee-dealer according to section 17, and the unit is rehabilitated or revived by such new owner, being the transferee-dealer, on or after the 1st day of April, 1993, under any scheme approved by the State Government. (3) A sick unit after being rehabilitated or revived shall be deemed to be a newly set up industrial unit in West Bengal, and the part of the eligible period, if any, for which the dealer availed of the benefit before the rehabilitation or revival, shall not be reckoned with for computation of the eligible period for the dealer or transferee-dealer, as the case may be, after such rehabilitation or revival. (4) The amount of tax or the aggregate of the amounts of tax payable by, or due from, the dealer upon rehabilitation or revival of such unit by the dealer himself, or upon S6 The West Bengal Finance Act, 1993. V of 1993.] (Section 3.) rehabilitation or revival by the transferee-dealer on transfer of the ownership of business according to section 17 relating to such unit, shall be such percentage of the gross value of fixed capital assets on the date of first commercial production in such unit following the rehabilitation or revival, as prescribed under section 10F or section 100, as the case may be. (5) The amount of tax or the aggregate of the amounts of tax that such dealer, upon rehabilitation of such unit by the dealer himself or upon rehabilitation on transfer of the business relating to such unit according to section 17, is entitled to deferment under sub-section (3) of section 10F, or remission of tax under section 10G, shall be reduced by the amount of tax in respect of which the dealer has enjoyed the benefit of deferment of payment of tax under section 1OF or remission of tax under section 10G, as the case may be, before rehabilitation or revival of the unit"; (8) in section 11, in sub-section (2a),— (i) in clause (a), for the words "four years" in the two places where they occur, the words "two years" shall be substituted; (ii) in clause (b),— (A) in sub-clause (i), for the words "four years" in the two places where they occur, the words "two years" shall be substituted; (B) in sub-clause (ii), for the words "four years" in the two places where they occur, the words "two years" shall be substituted; (iii) in the second proviso, after the words "in pursuance of an order", the words, figures, letter and brackets "under sub-section (2) of section I IE or" shall be inserted; (iv) for the third proviso, the following proviso shall be substituted:— "Provided also that if the provisions of sub- section (1) of section 11E do not apply to any assessment in respect of any of the periods ending on or before the 31st day of December, 1992, such assessment shall, notwithstanding the foregoing provisions of this sub- section, be made on or before the 31st day of December, 1994."; 87 (9) The West Bengal Finance Act, 1993. [West Ben. Act (Section 3.) for section 11E, the following section shall be substituted:— "Assessment