Page:United States Statutes at Large Volume 48 Part 1.djvu/767

 73d C ONGRESS. SESS. II. CH. 277. MAY 10, 1934. 741 deficiency, and decreased by the amounts previously abated, credited, ASS E89MEN T refunded, or otherwise. repaid in respect of such tax ; or AND COL LECTI ON (b) If no amount is shown as the tax by the taxpayer upon his C ontaFicIENCIEs return, or if no return is made by the taxpayer, then the amount by which the tax exceeds the amounts previously assessed (or col- lected without assessment.) as a. deficiency ; but such amounts previously assessed, or collected without assessment, shall first be decreased by the amounts previously abated, credited, refunded, or otherwise repaid in respect of such tax. SEC. 272. PRO CEDU RE IN GEN ERAL. Procedure in general. (a) PETIT ION TO BOARD O F TAX A PPEALS :If in the case of any to N ~p caey ec deficiency taxpaye r, the Commi ssione r dete rmines that t here i s a de ficien cy in respect of the tax imposed by this title, the Commissioner is author- ized to send notice of such deficiency to the taxpayer by registered mail. Within 90 days after such notice is mailed (not counting Sunday or a legal holiday in the District of Columbia as the nine- tieth day), the taxpayer may file a petition with the Board of Tax T Petition to Boardaof Appeals for a redetermination of the deficiency. No assessment of termination. No assessment until a deficiency in respect of the tax imposed by this title and no dis- notice mailed to tax- traint or proceeding in court for its collection shall be made, begun, pa yer. or prosecuted until such notice has been mailed to the taxpayer, nor until the expirati on of suc h 90-day period, n or, if a petition has Or Pe tition fi led. been filed with the Board, until the decision of the Board has become final. Notwithstanding the provisions of section 3224 of the Revised Injunction to restrain ass essment. Statutes the making of such assessment or the beginning of such Rs.,sec. s22i, p .6ls ; proceeding or distraint during the time such prohibition is in force may be enjoined by a proceeding in the proper court. Fo r excepti ons to th e restric tions imp osed by this subs ection, s ee- Excep tions to re- strictions. (1) Subsec tion ( d) of this s ection, relat ing to waive rs by the Wa ivers . taxpayer ; (2) Subsection (f) of this section, relating to notifications of Errors . mathematical errors appearing upon the face of the return ; (3) Sectio n 2 73, relati ng to jeopar dy ass essmen ts : Jeopardy assess- (4) Sectio n 274, relat ing to bankr uptcy a nd rec eivers hips ; and mBa nkuptcy, etc ., (5) Section 1001 of the Revenue Act of 1926, as amended, relat- p' T ' l. ing to assessment or collection of the amount of the deficiency determined by the Board pending court review. b COLLECTION OF DEFICIENCY FOUND BY BOARD .-If the tax a er Assessment of ded - files a petition with the Board, the entire amount redeterminedyas C1v .'11,p .lal the deficiency by the decision of the Board which has become final shall be assessed and shall be aid u on notice and demand from the Collection of aed - ll h ciency found by Board. collector. No part of the amount determined as a deficiency by the Commissioner but disallowed as such by the decision of the Board which has become final shall be assessed or be collected by distraint or by proceeding in court with or without assessment. (C) FAILt RE TO FILE PETITION :If the taxpayer does not file a. Payment on demand petition with the Board within the time prescribed in subsection (a) if petition not flied. of this section, the deficiency, notice of which has been mailed to the taxpayer, shall be assessed, and shall be paid upon notice and demand from the collector. (d) WAIVER OF RESTRICTIONS .-The taxpayer shall at any time Waiverofrestrictions ha ve the right, by a signe d noti ce in writing filed with the Co mmis- by taxpayer. si oner, to wai ve the restr iction s prov ided in subse ction (a) of this section on the assessment and collection of the whole or any part of the defi ciency. (e) INCREASE OF DEFICIENCY AFTER NOTICE MAILED.- The Board Increase of deficiency after notice mailed. shall have jurisdiction to redetermine the correct amount of the deficiency even if the amount so redetermined is greater than the