Finance Act, 1925

Relief from tax assessed on income under Case V. of Schedule D.

6.—The Rules applicable to Case V. of Schedule D of the Income Tax Act, 1918, shall be construed and have effect as if the following Rule were inserted therein after Rule 4, that is to say:—

“5.—Where a person who has been charged with tax in respect of income from a possession out of Saorstát Eireann proves that the total amount of tax, computed in accordance with Rule 1 of the Rules applicable to Cases I. and II. of Schedule D, which was paid in respect of that income for the first three complete years of assessment during which he was the owner of the possession exceeds the total amount which would have been paid if he had been assessed for each of those years on the actual amount of the income of each year, he shall be entitled to repayment of the excess.

An application for repayment under this Rule shall be made within twelve months after the end of the three years aforesaid and shall be determined by the Special Commissioners, whose determination thereon shall be final and conclusive.”