¹[ In the case of insolvency of a person or dissolution of an organization or for any other reasons, if it is certain that Value Added Tax or where applicable, Value Added Tax and Supplementary Duty imposed or penalty charged or any amount of money demanded under any undertaking or other document executed under this Act or the rules made thereunder cannot be recovered under section 95 of this Act, the Government may, write off such dues, in part or in full in the manner prescribed by rules:

Provided that, notwithstanding anything contained in any other law, following writing off of the government dues if there are evidences that any property of the responsible person or organization has been arisen anew, or the concerned person or organization has become insolvent transferring own property to any other person or organization with dishonest desires or with the intention of being freed from arrear responsibilities owing to the government, then preference will be created on that property for the realization of government dues and that will be realized in such manner as if the entire responsibility of paying government dues has been imposed upon the recipient of transferred property with dishonest desires or property arisen anew. ]