Section 5(2)(b) in The Punjab Passengers and Goods Taxation Rules, 1952
(b)When the Assessing Authority receives an application in Form PTT 3 for the cancellation of a certificate of registration under sub-rule (1) or is otherwise satisfied that a certificate of registration should be cancelled he shall after making such enquiry, as he thinks fit, cancel the registration certificate and it shall be deemed to have been cancelled and the liability to pay tax under the Act deemed to have ceased with effect from the date specified by the Assessing Authority in this behalf.