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

(ii)if the assets consist solely of money, or partly of money and partly of other assets, the Assessing Officer may apply such money in the discharge of the liabilities referred to in clause (i) and the assessee shall be discharged of such liability to the extent of the money so applied;

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Union of India - Subsection

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