Comparison View

Formal Consolidation |  2020 RevEd
Relief in respect of error or mistake
93A.—(1)  If any person alleges that for any year of assessment —
(a)an assessment is excessive; or
(b)any unabsorbed loss, allowance or donation that may be carried forward ought to be of a higher amount than that set out in an assessment,
by reason of some error or mistake —
(c)in the return or statement made by the person for the purposes of the assessment; or
(d)where the person is exempted from liability to furnish a return under section 62(2), in the notice of assessment served on the person,
the person may, at any time not later than 6 years (if the year of assessment within which the assessment was made is 2007 or a preceding year of assessment) or 4 years (if the year of assessment within which the assessment is made is 2008 or a subsequent year of assessment) after the end of the year of assessment within which the assessment was made, make an application in writing to the Comptroller for relief.
(1A)  An application by a person on the basis of an error or a mistake, for the year of assessment 2019 or any subsequent year of assessment, in the amount of any income, expense, outgoing or loss in connection with any transaction between the person and a related party (within the meaning of section 13(16)) of the person, must be supported by transfer pricing documentation for that transaction that satisfies section 34F(5).
[39/2017]
(1B)  To avoid doubt, subsection (1A) applies whether or not the person is a company, firm, partner of a partnership or trustee of a trust to which section 34F applies.
[39/2017]
(2)  On receiving the application, the Comptroller must inquire into the matter and must, subject to this section, give, by way of repayment of tax or an amendment to the assessment, such relief in respect of the error or mistake as appears to the Comptroller to be reasonable and just.
(3)  No relief by way of repayment of tax may be given under this section in respect of an error or a mistake as to the basis on which the liability of the applicant ought to have been computed when the return or statement was in fact made on the basis of or in accordance with the practice of the Comptroller generally prevailing at the time when the return or statement was made.
(3A)  No amendment may be made to the assessment under this section when the return or statement was in fact made on the basis of or in accordance with the practice of the Comptroller generally prevailing at the time when the return or statement was made.
(4)  In determining any application under this section, the Comptroller must have regard to all the relevant circumstances of the case, and in particular must consider whether the granting of relief would result in the exclusion from charge to tax of income of the applicant, and for this purpose the Comptroller may take into consideration the liability of the applicant and assessments made upon the applicant in respect of other years.
(5)  Section 79 applies in respect of an appeal against a determination of the Comptroller under this section except that no such appeal may be entertained until the sum of $250 has been deposited with the secretary to the Board of Review.
(6)  The sum mentioned in subsection (5) must be refunded in the event of the appeal being allowed.
(7)  The Board of Review may, if in its opinion the appeal was vexatious or frivolous, order that the whole or any part of the aforesaid sum be forfeited and awarded to the Comptroller as costs.
Informal Consolidation | Amended Act 33 of 2022
Relief in respect of error or mistake
93A.—(1)  If any person alleges that for any year of assessment —
(a)an assessment is excessive; or
(b)any unabsorbed loss, allowance or donation that may be carried forward ought to be of a higher amount than that set out in an assessment,
by reason of some error or mistake —
(c)in the return or statement made by the person for the purposes of the assessment; or
(d)where the person is exempted from liability to furnish a return under section 62(2), in the notice of assessment served on the person,
the person may, at any time not later than 6 years (if the year of assessment within which the assessment was made is 2007 or a preceding year of assessment) or 4 years (if the year of assessment within which the assessment is made is 2008 or a subsequent year of assessment) after the end of the year of assessment within which the assessment was made, make an application in writing to the Comptroller for relief.
(1A)  An application by a person on the basis of an error or a mistake, for the year of assessment 2019 or any subsequent year of assessment, in the amount of any income, expense, outgoing or loss in connection with any transaction between the person and a related party of the person, must be supported by transfer pricing documentation for that transaction that satisfies section 34F(5).
[39/2017]
[Act 33 of 2022 wef 04/11/2022]
(1B)  To avoid doubt, subsection (1A) applies whether or not the person is a company, firm, partner of a partnership or trustee of a trust to which section 34F applies.
[39/2017]
(2)  On receiving the application, the Comptroller must inquire into the matter and must, subject to this section, give, by way of repayment of tax or an amendment to the assessment, such relief in respect of the error or mistake as appears to the Comptroller to be reasonable and just.
(3)  No relief by way of repayment of tax may be given under this section in respect of an error or a mistake as to the basis on which the liability of the applicant ought to have been computed when the return or statement was in fact made on the basis of or in accordance with the practice of the Comptroller generally prevailing at the time when the return or statement was made.
(3A)  No amendment may be made to the assessment under this section when the return or statement was in fact made on the basis of or in accordance with the practice of the Comptroller generally prevailing at the time when the return or statement was made.
(4)  In determining any application under this section, the Comptroller must have regard to all the relevant circumstances of the case, and in particular must consider whether the granting of relief would result in the exclusion from charge to tax of income of the applicant, and for this purpose the Comptroller may take into consideration the liability of the applicant and assessments made upon the applicant in respect of other years.
(5)  Section 79 applies in respect of an appeal against a determination of the Comptroller under this section except that no such appeal may be entertained until the sum of $250 has been deposited with the secretary to the Board of Review.
(6)  The sum mentioned in subsection (5) must be refunded in the event of the appeal being allowed.
(7)  The Board of Review may, if in its opinion the appeal was vexatious or frivolous, order that the whole or any part of the aforesaid sum be forfeited and awarded to the Comptroller as costs.