Finance Act, 1941

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Power to assess tax notwithstanding previous assessment.

45.—(1) Excess corporation profits tax payable under or by virtue of this Part of this Act in respect of profits arising in an accounting period or part of an accounting period may be assessed and recovered notwithstanding that corporation profits tax has already been assessed in respect of those profits.

(2) Any additional corporation profits tax (other than excess corporation profits tax) payable in respect of an accounting period or part of an accounting period by virtue of an alteration in the law made by this Part of this Act which applies to that accounting period or part of an accounting period may be assessed and recovered notwithstanding that corporation profits tax has already been assessed in respect of such accounting period or part of an accounting period.