Section 131C: Objection to determination of loss

131C. Objection to determination of loss (1) Where a person is dissatisfied with a determination by the DirectorGeneral of the quantum of losses available for set-off or carried forward under section 20 or 59, he may, within 28 days of the date of the notice of determination, object to the determination in such form as the DirectorGeneral may approve specifying the detailed grounds of objection, and sent to the Director-General by registered post. (2) An objection under subsection (1) shall be dealt with by an objection directorate set up by the Director-General for that purpose. I5 – 87 [Issue 9] Income Tax Act (3) (a) Where it is proved to the satisfaction of the Director-General that, due to illness or other reasonable cause, a person has been prevented from making an objection within the time specified in subsection (1), the DirectorGeneral may consider the objection on such terms and conditions as he may determine. (b) Where the Director-General refuses to consider a late objection under paragraph (a), he shall, within 28 days of the date of receipt of the letter of objection, give notice of the refusal to the person. (4) Section 131B (1) to (4), (7), (8) and (9) shall apply in all respects for the determination of objections under this section as they apply for the determination of objections under section 131A. [S. 131C inserted by s. 9 (l) of Act 18 of 2003 w.e.f. 1 July 2003; amended by s. 9 (w) of Act 10 of 2010 w.e.f. 24 December 2010; s. 12 (t) of Act 26 of 2012 w.e.f. 22 December 2012.]