1090 Income tax assessment to be conclusive of total income

Where an assessment for any year of assessment has become final and conclusive —

• that assessment is also final and conclusive for the purposes of estimating total income from all sources for the purposes of the Income Tax Acts, and
• no relief – on the grounds of diminution of income or loss – is to be allowed unless a claim had previously been made for such allowance or adjustment under the specific provisions of the Income Tax Acts relating to such relief (Part 12 contains the provisions relating to loss relief).

Relevant Date: Finance Act 2021