50. Period of Limitation for Recovery of Tax

Notwithstanding anything contained in any law for the time being in force, no proceeding for the purposes of sub-section (6) of section 39 or sub-section (7) of section 47 shall be initiated under this Act except before the expiry of twelve years from due date within the meaning of sub-section (3) of section 24:

Provided that the period of limitation for the registered dealer availing of the tax deferment under section 23A of the Bihar Finance Act, 1981, as it stood by its repeal by section 94, shall be reckoned from the last date of repayment of the deferred amount of tax:

Provided further that when an appeal or application for revision, or review has been filed, the period of limitation as aforesaid shall run from the date of order passed on such appeal, application for revision, or review or from the date of order passed in pursuance of or as a result of such order, whichever is later.