Time limits for reassessment tightened; voluntary pre-notice payment bars notice though collusion excludes the benefit. Amendment adds procedural rules to section 28: the proper officer must determine unpaid, short-levied or erroneously refunded duty and related interest within prescribed time limits depending on whether collusion or willful misstatement/suppression is involved; a person may make a voluntary payment and inform the officer to prevent issuance of a notice in respect of that amount, though the officer may still determine and recover any remaining short-payment; voluntary-payment benefits exclude cases involving collusion or willful misstatement, and interest is payable on voluntary payments and any short-payment so determined.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time limits for reassessment tightened; voluntary pre-notice payment bars notice though collusion excludes the benefit.
Amendment adds procedural rules to section 28: the proper officer must determine unpaid, short-levied or erroneously refunded duty and related interest within prescribed time limits depending on whether collusion or willful misstatement/suppression is involved; a person may make a voluntary payment and inform the officer to prevent issuance of a notice in respect of that amount, though the officer may still determine and recover any remaining short-payment; voluntary-payment benefits exclude cases involving collusion or willful misstatement, and interest is payable on voluntary payments and any short-payment so determined.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
