Finance Act, 1971
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Payment of tax notwithstanding application for rehearing of appeal by Circuit Court. |
49.—Notwithstanding that, in the case of an assessment to corporation profits tax made upon a person on or after the date of the passing of the Finance Act, 1971, the person has, pursuant to section 429 of the Income Tax Act, 1967 (as applied to corporation profits tax by section 56 (6) of the Finance Act, 1920 ), required his appeal to the Appeal Commissioners against the assessment to be reheard by a judge of the Circuit Court, corporation profits tax shall be paid in accordance with the determination of the Appeal Commissioners: | |
Provided that if the amount of the assessment is altered by the determination of the judge, then— | ||
(a) if too much tax has been paid, the amount or amounts overpaid shall, save where the interest amounts to less than £1, be repaid with interest at the rate provided by section 14 (1) of the Finance Act, 1962 , from the date or dates of payment of the amount or amounts overpaid to the date on which the repayment is made; or | ||
(b) if too little tax has been paid, any balance shall be payable but the provisions of section 14 (3A) of the Finance Act, 1962 , shall apply as if the appeal were an appeal to the Appeal Commissioners and the determination of the appeal by the judge were a determination of the appeal by the Appeal Commissioners. |