§ 28. Sir HUGH LUCAS-TOOTH
asked the Chancellor of the Exchequer whether he is aware that the Treasury has refused to repay claims in respect of overpaid taxes where there has been a mistake as to the basis of assessment; and why they continue to do so after similar repayments in respect of the same or other years have been held correct by a Court of Law?
§ Mr. McNEILL
Speaking generally, the power of a taxpayer to require the reopening of an assessment to Income Tax, Schedule D, which has become final and conclusive, is governed by the provisions of Section 24 of the Finance Act, 1923, which deals with certain cases of error and mistake; a judicial decision has no retrospective effect in relation to assessments which have become final and conclusive under the law.