(1) Where, in respect of a return period, a Revenue officer has reason to believe that a principal has not made a return under section 530K or 530M or that the amount of tax due and payable by a principal under this Chapter for a return period was greater than the amount of tax, if any, specified in a return made or deemed to have been made by that principal for that return period, then, without prejudice to any other action which may be taken, the officer may make an assessment in one sum of the total amount of tax which in his or her opinion is due and payable by the principal in respect of that return period.

(2) Without prejudice to section 530F, but subject to subsection (5), the amount of tax specified in an assessment under subsection (1) shall be due and payable to the Revenue Commissioners from the person so assessed.

(3)

(a) A Revenue officer may, where he or she considers it necessary, amend an assessment of tax made under subsection (1).

(b) Without prejudice to anything in this Chapter, the provisions of Chapter 5 of Part 41A and section 1048 (including those relating to time limits) shall, with any necessary modifications, apply to the making and amending of an assessment under this section.

(4)