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assessment is increased, the Commissioner shall give to the appellant a notice in writing fixing a date on or before which any tax or balance of tax shall be paid. Any tax not so paid shall be deemed to be in default.
(5) Where any tax is in default, the Commissioner may in his discretion order that a sum or sums not exceeding five per centum in all of the amount in default shall be added to the tax and recovered therewith.
T
include
47. In the succeeding sections of this Chapter, "tax" Tax to includes any sum or sums added under section 46 (5) by fines, etc. reason of default, together with any fines, penalties, fees, or costs incurred.
first charge.
48.-(1) Save as provided in sub-section (2), tax in Tax to be a default shall be a first charge upon all the assets of the defaulter:
Provided that--
(i) such charge shall not extend to or affect any assets sold by the defaulter to a bona fide purchaser for value prior to the seizure of the same in accordance with the provisions of section 49;
(ii) as regards immovable property, the tax shall not rank in priority to any lease or encumbrance created bonâ fide for value and registered prior to the date of such seizure; and
(iii) as regards movable property, where tax for more than one year of assessment is in default, the tax for one year only, to be selected by the Commissioner, shall rank in priority to any lien or encumbrance created bonâ fide for value prior to the date of default.
(2) A receiver shall pay out of the assets under his control the tax charged or chargeable for one complete year of assessment prior to the date of the insolvency, bankruptcy, or liquidation, to be selected by the Commissioner, as a first charge on such assets and any other tax charged or chargeable for periods prior to such date shall be an unsecured debt:
Provided that where the receiver proves to the satisfaction of the Commissioner that any tax to which this sub-section applies is excessive, the Commissioner may, notwithstanding the provisions of section 45, review the assessment in respect of which the tax is charged and make such adjustment as he may in his discretion think reasonable.
49.--(1) The Commissioner may appoint persons to be Recovery Collectors.
(2)-(a) Where any tax is in default, the Commissioner may issue a certificate to any Collector or bailiff containing particulars of such tax and the name of the defaulter, and the officer to whom such certificate is issued shall be empowered and is hereby required to cause the tax to be recovered from the defaulter named in the certificate by seizure and sale of his movable property.
of tax by seizure and sale.