104.
| (1) Where in an assessment made in respect of any person the amount of income assessed or taxable wealth or taxable gifts exceeds that specified as his income or taxable wealth or taxable gifts in his return and the assessment is final and conclusive under section 103, the Commissioner may, unless that person proves to the satisfaction of the Commissioner that there is no fraud or wilful neglect involved in the disclosure of income or wealth or gifts made by that person in his return, in writing order that person to pay as a penalty for making an incorrect return a sum not exceeding two thousand rupees and a sum equal to twice the tax on the amount of the excess. |
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| (2) Any person in respect of whom an order is made under subsection (1) may, within twenty-one days after the notification of the order to him, appeal therefrom in writing to the Board of Review. The appeal shall state the grounds of objection to the order. |
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| (3) The provisions of section 101 shall as far as possible apply to the hearing and disposal of any appeal under the preceding provisions of this section. The Board of Review may confirm, reduce, increase or annul the penalty imposed by the order of the Com missioner from which an appeal is made, but any in crease of such penalty shall not be in excess of the maximum amount which the Commissioner may impose under subsection (1) as such penalty. |
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| (4) Where in respect of any person's return of income or wealth or gifts a penalty is imposed on that person under this section, he shall not be liable to a prosecution for an offence relating to that return under paragraph (a) of subsection (2) of section 118 or under paragraph (a) of subsection (1) of section 120. |
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* The amendment made in section 103 by subsection (1) of section 38 of Act No. 18 of 1965 shall be deemed to have come into force on March 30, 1963-See section 38 (2) of Act No. 18 of 1965. |
Sri Lanka Consolidated Acts