INCOME TAX ASSESSMENT ACT 1997 - SECT 820.690 Commissioner's power
INCOME TAX ASSESSMENT ACT 1997 - SECT 820.690
Commissioner's powerIf the Commissioner considers that, in relation to a calculation under this Division, an entity has:
(a) overvalued its assets; or
(b) undervalued its liabilities (including its * debt capital);
the Commissioner may, having regard to the * accounting standards and this
Subdivision, substitute a value that the Commissioner considers is
appropriate.