INCOME TAX ACT 1967 (ACT 53) PART X - SUPPLEMENTAL Chapter 3- Miscellaneous
Section 154A. Power to enter into an agreement with regard to tax liability.
(1) Notwithstanding any other provisions of this Act, the Government may enter into an agreement with any person with regard to ascertainment of his adjusted income or adjusted loss or tax chargeable on him where such agreement is, in the opinion of the Minister, just and equitable or in the interest of the Government or any State Government.
(2) Any such agreement may include-
(a) provision for disallowing (wholly or in part) outgoings or expenses which but for the agreement would have been allowed as a deduction; or
(b) provision for forgoing (wholly or in part) by any person of his entitlement to any relief or credit due to him under the Act.
