Addition of
new sections
51A, 51B and SIC.
LO
28. The principal Ordinance is amended by adding after sec- tion 5 the following new sections-
“Power to require statement of assets and
liabilitics
ele.
51A. (1) Where the Commissioner is personally of the opinion that a person has made an incorrect return or supplied false information having the effect of understating his income or profits chargeable to tax and has done so without reasonable excuse and not through an innocent oversight or omission, the Commissioner may give notice in writing to such person requiring him to furnish within the time limited by such notice, not being less than thirty days from the date of service of the notice, a state- ment containing particulars of-
(2) all assets which the person possessed in the Colony, including any possessed jointly or severally with any other person, at such times as may be specified in the notice; and (6) all abilities to which the person was sub- jeet in the Colony, including any to which be was subject jointly or severally with any other person, at such times as may be specified in the notice; and
(c) all expenditure or disbursements from funds in the Colony, including remittances over- seas and gifts, incurred or made by the person during such periods as may be specified in the notice: and
(d) all sums, including remittances, gifts and legacies received in the Colony by the per- son during such periods as may be specified in the notice.
(2) A notice given under subsection (1) shall not specify any time or period earlier than seven years before the commencement of the year of assessment in which it is given.
(3) Any person who has been required by notice given by the Commissioner under subsection (1) to furnish a statement may, by notice in writing to the Commissioner, object to the notice; but no such objection shall be valid unless it is received by the Commissioner within thirty days after the date of service of the notice:
Provided that if the Commissioner is satisfied that owing to absence from the Colony, sickness or other
Power to isque search warrant.
reasonable cause, the person objecting to the notice was prevented from giving notice of objection within such period, the Commissioner shall extend the period as may be reasonable in the circumstances.
(4) Where a valid objection has been received under subsection (3), the Commissioner shall refer the matter to the Board of Review by forwarding to the clerk to the Board-
(a) a copy of the notice served on the objector
under subsection (D);
(b) a copy of the objection received by the Commissioner under subsection (3), together with a copy of any submissions in relation thereto which the Commissioner may have received from the objector:
(c) a statement of the grounds on the basis of which the Commissioner formed his opinion giving rise to the notice.
(5) The Commissioner shall cause a copy of his statement under paragraph (c) of subsection (4) to be served on the objector.
(6) At the bearing of an objection the Commis- stoner and the objector may attend in person or by authorized representative and at any such hearing the onus shall lie on the Commissioner to establish that he had sufficient grounds for the opinion on which his notice under subsection (1) was based.
(7) Upon a hearing of an objection, the Board may dismiss the objection, cancel the notice given under subsection (1) or amend the notice.
(8) This section shall expire upon the expiration of three years from the date when it comes into operation unless the Legislative Council sball extend the operation thereof by resolution passed before that date.
518. (1) If the Commissioner, or an officer of the Inland Revenue Department not below the rank of chief assessor authorized in writing by the Com. missioner for the purpose, satisfies a magistrate, by statement made on oath.-
(a) that there are reasonable grounds for suspect-
ing that a person has made an incorrect return or supplied false information having