Finance Act 1958 (c. 56)

SCHEDULES

SIXTH SCHEDULE Extension of Time Limits

PART I Claims, Elections, etc.

1 There shall be substituted—

(a) in each of the enactments shown in Table I set out below, the words " six years " for the words " twelve months " or " one year ", according as the enactment is shown in the first or second column of that Table;

(b) in subsection (2) of section one hundred and twenty-nine of the Income Tax Act, 1952, the words " seven years " for the words " two years ";

(c) in subsection (2) of section twenty-two of the Finance Act, 1953, the words " eight years " for the words " three years ";

and in subsection (2) of section one hundred and seven, and in subsection (3) of section one hundred and fifteen, of the Income Tax Act, 1952, after the words " upon appeal " there shall be inserted the words " (notice of which may, notwithstanding anything in this Act, be given at any time not later than six years after the end of the year of assessment) ".

Table 1

The Income Tax Act, 1952
Sections 107 (4), 129 (2), 131 (1), 133 (1) (c), 181 (2), 343 (1), 425 (8) (except the proviso), 471 (4).	Schedule 23, Part II, paragraph 9 (2).

2 There shall be substituted—

(a) in each of the enactments shown in Table II set out below, the words " two years " for the words " twelve months " or " one year ", according as the enactment is shown in the first or second column of that Table;

(b) in subsection (2) of section one hundred and twenty-five of the Income Tax Act, 1952, the words " not later than two years after the end of the year of assessment " for the words " within two months after the commencement of the year of assessment";

(c) in subsection (1) of section four hundred and thirty-four and in subsection (1) of section four hundred and thirty-five of the Income Tax Act, 1952, the words " two years after the end of the year of assessment" for the words " the end of the year of assessment next following the year of assessment " ;

(d) in subsection (2) of section eighteen of the Finance Act, 1952, the' words " eight years " for the words " seven years ";

(e) in subsection (2) of section twenty of the Finance Act, 1953, the words " the second year " for the words " the year ".

Table II

The Income Tax Act, 1952
Sections 318 (1), 318 (2); Schedule 20, paragraph 2 (3).	Sections 324 (1), 341 (1).
The Finance Act, 1952
Sections 18 (1) (c), 18 (2).
The Finance Act, 1953
Section 23 (2).

3 This Part of this Schedule shall be deemed to have come into force on the fifth day of April, nineteen hundred and fifty-eight, but this paragraph shall not enable any application, claim, election, payment or notice to be effectively made or given after that day which could not have been so made or given on that day.

4 Such repayments of tax, reductions of assessments and additional assessments shall be made as may be required in consequence of the foregoing provisions of this Schedule; and where any application, claim, election or notice is validly made or given in a year of assessment in which it could not have been made or given but for those provisions, no assessment or additional assessment made on any person in consequence thereof shall be out of time if made not later than three years after the end of the said year of assessment.