3. Where any person makes a declaration in terms of the provisions of section 2 and tender proof in respect of such investment, purchase or construction, to the satisfaction of the Commissioner-General -
| (a) where the investment is in agriculture, industry, or utility services or in any security issued under the Registered Stocks and Securities Ordinance (Chapter 420), such person shall not be liable to the payment of any additional income tax or surcharge on income lax in respect of any such year of assessment, |
|
| (b) where the monies representing such undeclared profits and income have been utilized for the purchase of any movable or immovable property or in the construction of buildings for industrial, commercial, agricultural or residential purposes, such person shall not be liable to the payment of any additional income tax or surcharge on income tax in respect of any such year of assessment |
|
|
Sri Lanka Consolidated Acts