Section 101 : Amended tax assessment

1) The Department may have amended tax assessment in order to adjust the tax liability of a person whose tax has been assessed pursuant to Section 99 or 100 on reasonable grounds.

2) If the Department thinks it proper to re-amend the amended tax assessment made pursuant to sub-section (1), it may amend it for times, irrespective of how many, on reasonable grounds.

3) The Department shall, in assessing the tax pursuant to sub-section (1) or (2), complete the assessment within four months from the following date:

a) If tax is assessed pursuant to Section 99, the due date for the submission of income return,

b) If tax is assessed pursuant to sub-section (2) of Section 100, the date on which the tax assessment notice is given to the person whose tax is assessed,

c) If tax is assessed pursuant to sub-section (1) or (2), the date mentioned in clause (a) or (b) is related to the previous tax assessment that has been amended pursuant to sub-section (1).

4) Notwithstanding anything contained in sub-section(3), if the tax of any person has been assessed in a wrong manner due to fraud, the Department may amend such tax assessment at any time. Such amendment has to be made no late than one year of receipt of information that details have been given or tax assessed fraudulently.

5) Notwithstanding anything contained in sub-section (3), if the tax assessment is amended or the assessed tax is lessened by the Revenue Tribunal or other competent courts, the Department shall not be able to amend such tax assessment to that extent.

Provided that if an order has been issued to reexamine it, it shall not be deemed to bar the making of amendment.

6) In making amendments to tax assessment pursuant to this Section, the Department has to give that person notice in writing clearly setting out the grounds for such amendment and a time limit of fifteen days for the submission of proof and evidence for defence on such assessment of tax.