Cap. 372 Art. 32Cancellation of assessments.

(1) The Commissioner may for the purposes of the Income Tax Acts cancel any assessment 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 which 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 where such cancellation or raising of any assessment would involve the opening of any matter which has been determined on appeal for that year.

(3) Notwithstanding any other provisions of the Income Tax Acts where more than eight years have elapsed since the expiration of the year of assessment to which an assessment raised by the Commissioner before 1st January, 1992 refers and such assessment is still not final and conclusive in terms of article 38, and it 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 Commissioner may within ten years from 1st January 1992 or within two years from the date the taxpayer applies to the Commissioner in writing indicating as a further ground of objection such mistake, defect 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 under the Income Tax Acts shall apply to such an assessment and to the 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 chargeable 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 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.