SIXTY-EIGHTH CONGRESS. Sess. I. C11. 234. 1924. 297 by which the tax exceeds the amounts previousl assessed (or col- ¤*¤¤¤¤ inlected without assessment) as a deficiency; but such amounts previously assessed; or collected without assessment, shall first be ecreased by the amounts previously abated, credited, refunded, or otherwise repaid in respect of such tax. Sec. 274. (a) If, in the case of any taxpayer, the Commissioner flgopqs to taxpayer determines that there is a deficiency in respect of the tax imposed ° B m°°°y` by this title, the taxpayer, except as provided in subdivision (d), shall be notified of such deiciency by registered mail, but such dehciency shall be assessed only as hereinafter provided. Within T,§*,“§§,“pw°,§_B°"d °' 60 days after_ such notice is mailed the taxpayer may file an appeal with the Board of Tax Appeals established by section 900. P°"·¥’·“‘*“· (b) If the Board determines that there is a deficiency, the amount m§,*;{}§,‘§'$ so determined shall be assessed and shall be paid upon notice and _ _ demand from the collector. No part of the amount determined as ,,§,‘§§,0}’§(m,?,‘§,‘{‘$,¥",, a deficiency by the Commissioner but disallowed as such by the ¤¤¤W¢¤· Board shall be assessed, but a roceeding in court may be begun, . without assessment, for the coll)ection of any part of the amount _ so disallowed. The court shall include in its judgment interest b,}‘Q,,“’u'§°°“’“d““°“° upon the amount thereof at the rate of 6 per centum per annum from the date prescribed for the payment of the tax to the_ date of the judgment. Such roceedin s all be begun within one year 'I`ai!¤° limit ‘°' P'°‘ after the final decision of the Boaxiii, and may be begun within such ` year even though the period of limitation prescribed in section 277 as ex§¥‘ed. . (c) the taxpayer does not file an a with the Board u,{,°§§§§°,'$°}§,dd?m°"d within the time prescribed in subdivision {ei. of this section, the deficiency of which the taxpayer has been notified shall be assessed, and sha] be paid upon notice and demand from the collector. (d) If the Commissioner believes that the assessment or collec- m§';'”;’g°§*}mu§?,$ tion of a deficiency will be `eopardized b dela such deficienc shall Jwpaiuuek by delay- be assessed immediately and notice and dsemandr shall be made by the collector for the payment thereof. In such case the assessment may be made (1) without giving the notice provided in subdivision (a) of this section, or (2) before the expiration of the 60-da period provided in subdivision (a) of this section even thoufhsucli notice as been given, or (32 at any time prior to the final ecision by the Board ugon such de ciency even though the taxpayer has filed an apfpeal. f the taxpayer does not file a claim in abatement as pro- "Z§’§‘,§§?§°§;2$'“"° vi ed in section 279 the deficienc so assessed (pr, if the claim so filed covers only a part of the degciency, then the amount not coverpil by the claim) shall be paid upon notice and demand from the co ector. (e) If the tax ayer has elected to {pay the tax in installments and d.1;,2°§`°70°°m;°fi,u;;°lQ°.tiZ a deficiencylgas Keen assessed, the de ciency shall be prorated to the P°Ym°¤°’· · four insta ents. Except as provided in subdivision (d1)mof this section, that part of the deficiency so prorated to any instal ent the . date for payment of which has not arrived, shall be collected at the same time as and as part of such installment. That part of the deficiency so prorated to any installment the date for payment of which has arrived, shall be paid upon notice and demand from the co ector. I at mm m (f) Interest upon the amount determined as a deficiency, or, if I the tax is paid in installments, upon the part of the deficiency prorated to each mallment, shall be amessed at the same time as the deficiency, shall be paid upon notice and demand from the collector, and shall be collected as a part of the tax, at the rate of 6 per centum per annum from the date prescribed for the pa ment of the tax, or the payment of such installment, to the date the deficiency is assemed.
