Alteration of vehicle making it liable to a lower rate of tax or additional tax

Where a transport vehicle has been altered with due approval of the Registering Authority under Section 52 of the Motor Vehicles Act, 1988 so as to make it liable to tax or additional tax at a lower rate than the tax or additional tax which has been paid, the owner thereof may make a declaration in Form B and apply for the re-assessment of the tax or additional tax on such vehicle. If the Taxation Officer is satisfied that such vehicle has been altered in such a way as to make it liable to tax or additional tax at a lower rate than the tax or additional tax which has been paid, the Taxation Officer shall, with effect from the date following the date of expiry of the quarter in which the alteration has been made in the said vehicle, assess the said vehicle at the appropriate lower rate and the owner thereof shall thereupon pay with effect, from such date the tax or additional tax so reduced.