Paragraph 48

This paragraph applies where an appeal under paragraph 33 has been notified to the tribunal.

If the tribunal decides that a relevant person is overcharged by a self-assessment or any other assessment, the assessment must be reduced accordingly.

If the tribunal decides that a relevant person is undercharged to tax by a self-assessment or any other assessment, the assessment must be increased accordingly.

In a case where neither sub-paragraph (2) or (3) apply, the assessment is to stand good.