1989 Ed.]
Inland Revenue
[CAP. 112
131
to that corporation during any year of assessment, has been effected by any person after the commencement of the Inland Revenue (Amendment) Ordinance 1986 (7 of 1986); and (b) the sole or dominant purpose of the change was for the purpose of utilizing any loss or any balance of any loss sustained in a trade, profession or business carried on by the corporation, in order to avoid liability on the part of that corporation or any other person for the payment of any tax or to reduce the amount thereof,
the set off of any such loss or balance of loss against any such profits shall be disallowed.
(Added 7 of 1986 s. 10)
62. Notice to be issued by Commissioner
(1) The Commissioner shall give a notice of assessment to each person who has been assessed stating the amount assessed, the amount of tax charged, and such due date for payment thereof as may be fixed by the Commissioner. (Amended 2 of 1971 s. 40)
(2) Where the assessment is a provisional assessment made under section 59(2) the person assessed shall be notified accordingly by the Commissioner, and he shall further be notified in due course by the Commissioner if such provisional assessment is confirmed. The confirmation of a provisional assessment shall not preclude the making of an additional assessment subsequently under section 60.
(3) Where by reason of an amendment of the law it is necessary to vary the amount of tax charged in any notice of assessment the Commissioner may give such notification as may be necessary to the person assessed in that notice of assessment, and any notification so given shall, as regards any particulars of the assessment contained in the notification which have not been included in the notice of assessment, have effect as if the notification were a notice of assessment.
(Amended 35 of 1965 s. 27)
63. Validity of assessments, etc.
No notice, assessment, certificate, or other proceeding purporting to be in accordance with the provisions of this Ordinance shall be quashed, or deemed to be void or voidable, for want of form, or be affected by reason of a mistake, defect, or omission therein, if the same is in substance and effect in conformity with or according to the intent and meaning of this Ordinance, and if the person assessed or intended to be assessed or affected thereby is designated therein according to common intent and understanding.
1989 Ed.]
Inland Revenue
[CAP. 112
131
to that corporation during any year of assessment, has been effected by any person after the commencement of the Inland Revenue (Amendment) Ordinance 1986 (7 of 1986); and (b) the sole or dominant purpose of the change was for the purpose of utilizing any loss or any balance of any loss sustained in a trade, profession or business carried on by the corporation, in order to avoid liability on the part of that corporation or any other person for the payment of any tax or to reduce the amount thereof,
the set off of any such loss or balance of loss against any such profits shall be disallowed.
( Added 7 of 1986 s. 10)
62. Notice to be issued by Commissioner
(1) The Commissioner shall give a notice of assessment to each person who has been assessed stating the amount assessed, the amount of tax charged, and such due date for payment thereof as may be fixed by the Commissioner. (Amended 2 of 1971 s. 40)
(2) Where the assessment is a provisional assessment made under section 59(2) the person assessed shall be notified accordingly by the Commissioner, and he shall further be notified in due course by the Commissioner if such provisional assessment is confirmed. The confirmation of a provisional assessment shall not preclude the making of an additional assessment subsequently under section 60.
(3) Where by reason of an amendment of the law it is necessary to vary the amount of tax charged in any notice of assessment the Commissioner may give such notification as may be necessary to the person assessed in that notice of assessment, and any notification so given shall, as regards any particulars of the assessment contained in the notification which have not been included in the notice of assessment, have effect as if the notification were a notice of assessment.
(Amended 35 of 1965 s. 27)
63. Validity of assessments, etc.
No notice, assessment, certificate, or other proceeding purporting to be in accordance with the provisions of this Ordinance shall be quashed, or deemed to be void or voidable, for want of form, or be affected by reason of a mistake, defect, or omission therein, if the same is in substance and effect in conformity with or according to the intent and meaning of this Ordinance, and if the person assessed or intended to be assessed or affected thereby is designated therein according to common intent and understanding.
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