(2)Notwithstanding anything contained in sub-section (1), in a case where the tax on accreted income is payable under the circumstances referred to in clause (c) of sub-section (1) of section 115TD, the person to whom any asset forming part of the computation of accreted income under sub-section (2) thereof has been transferred, shall be deemed to be an assessee in default in respect of such tax and interest thereon and all the provisions of this Act for the collection and recovery of income-tax shall apply:Provided that the liability of the person referred to in this sub-section shall be limited to the extent to which the asset received by him is capable of meeting the liability.Following Explanation shall be inserted in section 115TF by the Finance Act, 2022, w.e.f. 1-4-2023:Explanation.—For the purposes of this section, "specified person" shall have the same meaning as assigned to in clause (iia) of the Explanation to section 115TD.
