Finance Act, 1930

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Adjustment of assessment for year 1930-31 in certain cases.

4.—(1) If any person, who was assessed and charged to tax for the year ending on the 5th day of April, 1930, in respect of income arising or accruing from securities outside Saorstát Eireann or from stocks, shares or rents in Great Britain or Northern Ireland, proves to the satisfaction of the Revenue Commissioners in the manner provided by this section that the aggregate amount of the income so assessed was greater by more than twenty per cent. than the aggregate amount of the income actually arising or accruing to him for the year ending on the 5th day of April, 1931, from securities outside Saorstát Eireann and from stocks, shares or rents in Great Britain or Northern Ireland, he shall be entitled, on making application in the manner hereinafter provided, to have the assessment made upon him for the year ending on the 5th day of April, 1931, under the Rules (other than Rules 3 and 4) applicable to Case III. of Schedule D of the Income Tax Act, 1918, adjusted to a sum to be computed on:—

(a) the aggregate amount of his income actually arising or accruing in the year ending on the 5th day of April, 1931, from securities outside Saorstát Eireann and from stocks, shares or rents in Great Britain or Northern Ireland; and

(b) the amount of all his other income assessable under the Rules (other than Rules 3 and 4) applicable to Case III. of Schedule D of the Income Tax Act, 1918, actually arising or accruing for the year ending on the 5th day of April, 1930, or the year ending on the 5th day of April, 1931, whichever is the greater.

(2) A person who makes application under this section for adjustment of an assessment shall be entitled to repayment of such part of the tax paid by him as is equal to the difference between the amount of tax so paid and the amount which would have been payable if the assessment had in the first instance been computed under the foregoing sub-section.

(3) Every application under this section shall be made on or before the 30th day of September, 1931, and shall be made in writing to the inspector of taxes, and the Revenue Commissioners shall be entitled to call for such evidence as they may deem necessary to enable them to give their decision on such application.

(4) Any person who makes an application under this section and is dissatisfied with the decision of the Revenue Commissioners thereon shall be entitled, on giving notice in writing to the inspector of taxes within twenty-one days after the notification of such decision to him, to require that his application be referred to the Special Commissioners.

(5) The determination of the Special Commissioners on an application referred to them under the foregoing sub-section shall be final and conclusive.