For the purposes of this section, the term ‘Board of Review’ means a Board of Review constituted under the Inland Revenue Department Amendment Act 1960.

This section shall apply to such objections under section 23 of this Act as relate in whole or in part to any determination of the Commissioner under section 74, section 77a, section 96, section 107a, or section 111 of this Act.

Instead of requiring the Commissioner to state a case for the opinion of the Supreme Court under section 25 of this Act, any person who is dissatisfied with the decision of the Commissioner on any objection as aforesaid as being erroneous either in law or in fact may within twenty-one days after the date of that decision, and on payment of the duty and penalty (if any) so assessed, by notice in writing to the Commissioner, require that the objection be heard and determined by a Board of Review, and thereupon the provisions of the Inland Revenue Department Amendment Act 1960 shall apply in respect of the institution, hearing, and determination of the proceedings on the objection.

On the determination of any such objection, the Board of Review may either confirm or cancel the assessment, or increase or reduce the amount thereof, or may refer the assessment back to the Commissioner to be altered in accordance with the directions of the Board of Review, and in every such case the assessment shall, where necessary, be altered by the Commissioner so as to conform to the determination of the Board of Review.”