https://www.taxtmi.com/acts?id=11794 Assessing Officers may recover aggregate tax liabilities from assets seized or requisitioned; aggregate liability includes existing liabilities at search, liabilities determined thereafter up to assessment completion, liabilities on completion, and liabilities determined after completion until asset release. Non-cash assets are deemed under distraint and recovered per the Fifth Schedule; cash may be applied directly to liabilities. Officers may release non-cash assets pre-assessment if a deposit equal to value is made and approved by the Commissioner, and remaining assets or proceeds must be released after liabilities are discharged under prescribed conditions. en-us Fri, 17 Sep 2010 10:38:15 +0530 Fri, 17 Sep 2010 10:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11794 Assessing Officers may recover aggregate tax liabilities from assets seized or requisitioned; aggregate liability includes existing liabilities at search, liabilities determined thereafter up to assessment completion, liabilities on completion, and liabilities determined after completion until asset release. Non-cash assets are deemed under distraint and recovered per the Fifth Schedule; cash may be applied directly to liabilities. Officers may release non-cash assets pre-assessment if a deposit equal to value is made and approved by the Commissioner, and remaining assets or proceeds must be released after liabilities are discharged under prescribed conditions. Act-Rules Bills Fri, 17 Sep 2010 10:38:15 +0530 https://www.taxtmi.com/acts?id=11794