Section 28A
Writing off of losses.
About this Act
An Act to provide for the control by the Union of the Tea industry, including the control, in pursuance of the International Agreement now in force, of the cultivation of tea in, and of the export of tea from, India and for that purpose to establish a Tea Board and levy a duty of excise on tea produced in India.
1[28A. Writing off of losses.--Subject to such conditions as may be specified by the Central
Government, where the Board is of opinion that any amount due to, or any loss, whether of money or of
property, incurred by the Board is irrecoverable, the Board may, with the previous approval of the Central
Government, sanction the writing off finally of the said amount or loss:
Provided that no such approval of the Central Government shall be necessary where such irrecoverable amount or loss does not exceed in any individual case and in the agreegate in any year such amounts as may be prescribed.]
Provided that no such approval of the Central Government shall be necessary where such irrecoverable amount or loss does not exceed in any individual case and in the agreegate in any year such amounts as may be prescribed.]
Notes
1. Ins. by Act 24 of 1986, s. 3 (w.e.f. 15-8-1986).