16-B. Bar of limitation for commencing proceeding
No proceeding for the recovery of any sum payable under this Act shall be commenced after the expiry of one year from the last date of the financial year in which assessment is made or, in the case of a person who is deemed to be an assessee in default under clause (f) of sub-section (1) of section 16-A after the expiry of one year from the last date of the financial year in which he is deemed to be an assessee in default.
Explanation I - The period of one year referred to above shall be reckoned.-
(ii) where a sum payable is allowed to be paid in instalments from the last day of the financial year in which the last of such instalments is due;
(iii) where recovery proceedings in case have been stayed by an order of a court, from the last day of the financial year in which the order is withdrawn.