(1)The difference referred to in paragraph (ii) of subsection (1) of section forty-seven of this Act is the difference between—
(a)the amount of tax payable for the relevant years of assessment by the said person (including any amount deducted at source and not repayable); and
(b)the amount which would have been the amount so payable if the return, statement, declaration or accounts as made or submitted by him had been correct.
(2)The relevant years of assessment for the purposes of subsection (1) of this section are, in relation to anything delivered, made or submitted in any year of assessment, that, the next following, and any preceding year of assessment; and the references in that subsection to the amount of tax payable include surtax, except that, in relation to anything done in connection with a partnership, they do not include any tax not chargeable in the partnership name.
(3)For the purposes of section forty-seven of this Act, any accounts submitted on behalf of any person shall be deemed to have been submitted by him unless he proves that they were submitted without his consent or connivance.