Section 41
Finality of assessment
of Petroleum (Income Tax) Act 1967
ActIn forceProvision 50 of 124
Section 41
(1)
Where—
(a)
no valid notice of appeal against an assessment has been given under section 43 within the time specified by that section (or any extension thereof);
(b)
an agreement has been come to with respect to an assessment pursuant to subsection 45(2); or
(c)
an assessment has been determined on appeal and there is no right of further appeal, the assessment as made, agreed to or determined shall be final and conclusive for the purposes of this Act.
(2)
Nothing in subsection (1) shall prejudice the exercise of any power conferred on the Director General by section 39 or subsection 74(3).
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