| 6/1/2009 |
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| Board of Special Commissioners - Cases |
| Case No. 5/69 |
Decided: 12 February 1971 |
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Period of prescription - article 53, Income Tax Act, now 31, Income Tax Management Act
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Under normal circumstances, where it appears to the Commissioner that a person liable to tax has not been assessed or has been assessed at a less amount than that which ought to have been charged an assessment or additional assessment may be made within eight years (now reduced to five) after the expiration of the year of assessment. He is not, however, statute barred from doing so at any time whatsoever where the taxpayer would have failed to made a full disclosure of all material fats relevant to the determination of his income and allowable deductions, this apart from cases of outright tax avoidance or fraud.
In this particular case the Board, after examining the taxpayer's return and the Revenue's findings, determined that appellant had failed to make proper disclosures, and, therefore, the appeal was rejected.
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