Investment Incentives Order, 2001 · As enacted · Part XII
96. Recovery of tax exempted
Official textFrom Attorney General's Chambers, unchanged
Notwithstanding any other provisions of this Part, where it appears to the
Collector that -
Collector
"Collector" means the Collector of Income Tax appointed under the Income Tax Act;
{a}
any amount of exempted income of a warehousing company or a servicing company; or
warehousing company
"warehousing company" means a company which has been approved as a warehousing company under section 89. Approved warehousing company or servici~g company.
{b} any dividend exempted in the hand of any shareholder, ought not to have been exempted by reason of a direction made under section 66
(as made applicable by section 92) or the revocation under section 114 of the certificate issued under section 89 to the warehousing company or the servicing company, the Collector may subject to section 62 of the Income Tax Act -
servicing company
"servicing company" means a company which has been approved as a servicing company und~r section 89;
make such assessment or additional assessment upon the company or any such shareholder as may appear to be necessary in order to recover such tax as may have been exempted under this Part; or
company
"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
direct the company to debit its tax exempt account with such amount as the circumstances may require.
Terms defined in this Act
Collector
Defined · s 3"Collector" means the Collector of Income Tax appointed under the Income Tax Act;
company
Defined · s 3"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
servicing company
Defined · s 88"servicing company" means a company which has been approved as a servicing company und~r section 89;
warehousing company
Defined · s 88"warehousing company" means a company which has been approved as a warehousing company under section 89. Approved warehousing company or servici~g company.
Part XIII