Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAssessments or amended assessments to be final
| 123. Where no valid appeal has been lodged within the time specified in section 117 (1) against an assessment as regards the amount of the assessable income or the taxable wealth or the taxable gifts, assessed thereby or where an appeal preferred against such an assessment is dismissed under subsection (7) of section 117, or where agreement is reached under section 117(5) as to the amount of such assessable income, or taxable wealth, or taxable gifts, or where the amount of such assessable income, or taxable wealth, or taxable gifts has been determined on appeal, the assessment as made or agreed to or determined on appeal, as the case may be, shall be final and conclusive for all purposes of this Act as regards the amount of such assessable income or taxable wealth or taxable gifts, as the case may be: Provided that nothing in this section shall be read and construed as preventing an Assessor from making, subject to the provisions of section 115, an assessment or additional assessment for any year of assessment, which does not involve re-opening any matter which has been determined on appeal for that year. |