Income Tax Management Act (Cap. 372), article 32

32. (1) The Commissioner may for the purposes of the Income Tax Acts cancel any assessmen t raised by him, and such cancellation shall be without prejudice to the raising of any assessment required to be raised under this Act in replacement of the assessment so cancelled wh ich shall be deemed not to have been raised. (2) Nothing in this article contained shall empower the Commissioner to cancel or raise any assessment for any year whe re such cancellation or raising of any assessment would involve th e opening of any matter which has been determined on appeal for t hat year. (3) Notwithstanding any other provisions of the Income Tax Acts where more than eight years have elapsed since the expirat ion of the year of assessment to which an assessment raised by the Commissioner before 1st January, 1992 refers and such assessmen t is still not final and conclusive in terms of article 38, and i t appears to the Commissioner that such assessment may be invalid or void because of any mistake, defect or omission by the Commissioner in making such assessment or in the notice thereof, the Commission er may within ten years from 1st January 1992 or within two years from the date the taxpayer applies to the Commissioner in writi ng indicating as a further ground of objection such mistake, defec t or omission raise a new assessment in terms of article 30 for the year of assessment in question and the provisions of the Income Tax Acts as to notice of assessment, appeal and other proceedings u nder the Income Tax Acts shall apply to such an assessment and to th e tax charged thereon: Provided that: (i) the provisions of this sub-article shall similarly apply to those assessments which have been raised by the Commissioner on 1st January 1992 or any subsequent date other than assessments raised under article 31 of the Act; and (ii) where a new assessment in terms of article 30 and to which this sub-article or paragraph (i) of this proviso refers has not been raised by the Commissioner within the period referred to in this sub-article, the Commissioner may at any time raise a new assessment on the taxpayer on all or any part of the ch argeable income of the taxpayer as declared by him for the year of assessment in question upon which no valid assessment has been raised; and except for the provisions of article 30(4), the provisions of the INCOME TAX MANAGEMENT [CAP. 372. 35 Income Tax Acts as to notice of assessment, appeal and other proceedings under the Income Tax Acts shall apply to such assessment and to any tax chargeable thereunder. Power of the Commissioner to revise assessment in case of objection. Amended by: XXIII. 1995.3; XX. 1996.21.