Assessment of non-filers: officers may assess by best judgement; subsequent valid return withdraws assessment but interest and late fee remain

A proper officer may proceed to assess a registered person who fails to furnish required returns by best judgement, using all relevant material, and issue an assessment order within five years from the date specified for the annual return for the year concerned. If the person furnishes a valid return shortly after service of that assessment order, the order is deemed withdrawn, but liability for interest and for late fee continues.

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