Section 132B(1)(iii) in The Income Tax Act, 1961

[Cites 0, Cited by 3] [Section 132B(1)] [Section 132B] [Entire Act]

Union of India - Subsection

Section 132B(1)(iii) in The Income Tax Act, 1961

(iii)the assets other than money may also be applied for the discharge of any such liability referred to in clause (i) as remains undischarged and for this purpose such assets shall be deemed to be under distraint as if such distraint was effected by the Assessing Officer or, as the case may be, the Tax Recovery Officer under authorisation from the Chief Commissioner or Commissioner under sub-section (5) of section 226 and the Assessing Officer or, as the case may be, the Tax Recovery Officer may recover the amount of such liabilities by the sale of such assets and such sale shall be effected in the manner laid down in the Third Schedule.

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Union of India - Subsection

Section 132B(1)(iii) in The Income Tax Act, 1961