Commissioner's assessment on best information

(a) (1) If any person has not made a required return (other than an amended return) within three months after the due date specified for such return under the provisions of the Income Tax Act, the Commissioner may make such return at any time thereafter, according to the best information obtainable and according to the form prescribed. To the tax imposed upon the basis of such return, there shall be added a penalty equal to 10% of such tax or $50, whichever is greater. The tax shall bear interest at the statutory rate under subsection (b) of Section 12-735 of the General Statutes for each month or fraction thereof, from the due date of such tax until the date of payment.

(2) If any person has not made an amended return (including any return required under § 12-704(b)-1 of Part VI or § 12-727(b)-1 or § 12-727(b)-2) of Part XIV within three months after the due date specified for such return under the provisions of the Income Tax Act, the Commissioner may make such return at any time thereafter, according to the best information obtainable and according to the form prescribed. To the tax imposed upon the basis of such return, there shall be added a penalty equal to 10% of such tax or $50, whichever is greater. The tax shall bear interest at the statutory rate under subsection (b) of Section 12-735 of the General Statutes for each month or fraction thereof, from the due date of such tax until the date of payment.

(3) The making of a return by the commissioner under subsection (b) of Section 12-735 of the General Statutes for any person does not relieve such person of the duty or responsibility to make a return and shall not constitute the filing of a return by such person, so that a notice of deficiency under the provisions of subsection (c) of Section 12-733 of the General Statutes may be mailed to such person at any time. If the failure of such person to make such return is wilful, such person shall be subject to prosecution under the provisions of subsection (a) of Section 12-737 of the General Statutes.

(b) For purposes of Section 12-735(b) of the general statutes and subsection (a) of this section, "return" does not mean any installment(s) of estimated tax required under Part VIII, but means the final tax return required to be filed on the fifteenth day of the fourth month following the close of the taxable year with respect to which such installments of estimated tax were made, and such other returns as may be required under the Income Tax Act, including, but not limited to, returns required under § 12-704(b)-1 of Part VI and §§ 12-727(b)-1 and 12-727(b)-2 of Part XIV.

(d) For the definition of "month or fraction thereof," see § 12-701(b)-1 of Part XIV.

(e) While this section pertains to Section 12-735(b) of the general statutes, for purposes of supplementary interpretation, as the phrase is used in Section 12-2 of the general statutes, the adoption of this section is authorized by Section 12-740(a) of the general statutes.

(Effective November 18, 1994; Amended December 19, 2002)

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