Page:United States Statutes at Large Volume 49 Part 1.djvu/1770

 74TH C ONGRESS. SESS. II. CH. 690. JUN E 22, 1936 . 1725 taxpayer as provided in section 322, without the filing of claim post .p.1731. therefor. If the amount de termined as the amount which s hould Collection of greater assessment. have been assessed is greater than the amount actually assessede then the difference shall be assessed and shall be collected as part of the tax upon notice and demand from the collector. (j) CLAIMS IN ABATEMENT.-NO claim in abatement shall be filed No cla im in abate- ment to be filed. in respect of any assessment in respect of any tax imposed by this title. SEC. 274. BANKRUPTCY AND RECEIVERSHIPS. Bankruptcy and re- ceiverships . (a) IMMEDIATE ASSESSMENT .-Upon the adjudication of bank- Immediate assess- ruptcy of any taxpayer in any bankruptcy proceeding or the appoint- n eat of tax deficienc y ment of a receiver for any taxpayer in any receivership proceeding before any court of the United States or of any State or Territory or of th e Dist rict o f Colu mbia, any de ficien cy (to gether with all interest, additional amounts, or additions to the tax provided for by law) determined by the Commissioner in respect of a tax imposed by this title upon such taxpayer shall, despite the restrictions imposed by section 272 (a) upon assessments be immediately assessed if such deficiency has not theretofore been assessed in accordance with law. In such cases the trustee in bankruptcy or receiver shall give notice Notice of adiudica- in writing to the Commissioner of the adjudication of bankruptcy ticn' or the appointment of the receiver, and the running of the statute of limitations on the making of assessments shall be suspended for the peri od from the date of adjudicati on in bankruptcy or the appointment of the receiver to a date 30 days after the date upon which the notice from the trustee or receiver is received by the Commissioner ; but the suspension under this sentence shall in no case be for a. period in excess of two years. Claims for the deficiency Presentation of claim, and such interest, additional amounts and additions to the tax may be presented, for adjudication in accordance with law, to the court before which the bankruptcy or receivership proceeding is pending, despite the pendency of proceedings for the redetermination of the deficiency in pursuance of a petition to the Board ; but no petition for any such redetermination shall be filed with the Board after the adjud icatio n of b ankrup tcy or the a ppoint ment o f the receiv er. (b) UNPAID CLAIM,. .-Any portion of the claim allowed in such P Unpaid l ims. bankruptcy or receivership proceeding which is unpaid shall be paid by the taxpayer upon notice and demand from the collector after the t ermina tion o f such proce eding, and m ay be collec ted by distraint or proceeding in court within six years after termination of suc h p roc ee din g. Extensions of time fo r such payment may be Time extensions. had in the same manner and subject to the same provisions and limi- tation s as are provide d in sec tion 272 (j) and sectio n 296 in the cas e A"tP' p. 1723; Po t, p. 1728 . of a deficiency in a tax imposed by this title . SEC. 275. PE RIOD OF LIMITA TION U PON ASS ESSMENT AND CO LLEC- Per iod of limitation TION. upon assessment and collection . Exc ept as provi ded in secti on 276 - Post, p.1726. a GENERAL RULE .-The amount of income taxes imposed b Assessment within y three years. this title shall be assessed within three years after the return was filed, and no proceeding in court without assessment for the collec- tion of such taxes shall be begun after the expiration of such period . (b) REQUEST FOR PROMPT ASSESSMENT : In the case of income Re que st for prompt assessment by fiduci- received during the lifetime of a decedent, or by his estate during ar yrepre sentati ves,et c . the period of administration, or by a corporation, the tax shall be assessed, and any proceeding in court without assessment for the collection of such tax shall be begun, within eighteen months after