40. Replacement of section 162A of the principal enactment

Section 162A of the principal enactment is hereby repealed and the following section substituted therefor:-

162A. The Commissioner - General shall not, subject to the provisions of section 4 of the

Inland Revenue (Regulation of Amnesty) Act,

No.10 of 2004, commence any action under sections 148, 149, 150, 151 or 152 of this Act for the recovery of tax in default, after the expiry of five years from the end of the year of assessment in which the assesssment by which such tax was charged or levied becomes final and conclusive under section 142.”.

“Action not to commence after expiry of five years in certain circumstances.