21.
| (1) Every person who, in the opinion of an Assessor, is chargeable with capital levy shall be assessed by him as soon as may be after the expiration of the time specified in the notice requiring him to furnish a return of capital under the provisions of section 82 of the principal Act applied as if those provisions were provisions of this Act in the manner indicated in section 14 of this Act: |
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| (2) Where a person has furnished a return of capital, the Assessor may either-
| | (a) accept the return and make an assessment accordingly; or | | |
| | (b) if he does not accept the return, estimate the amount of the leviable capital and assess him accordingly. | | |
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| (3) Where a person has not furnished a return of capital, and the Assessor is of the opinion that such person is chargeable with capital levy, he may estimate the amount of the leviable capital and assess him accordingly, but such assessment shall not affect the liability of such person to a penalty by reason of his failure or neglect to deliver a return. |
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Sri Lanka Consolidated Acts