49(1)  Where–

(a)at any time before 4th December 1996, any person (“the taxpayer” ) became liable to pay any sum (“the relevant sum” ) to the Commissioners by way of VAT, penalty, interest or surcharge,

(b)at any time on or after 18th July 1996 and before 4th December 1996 an amount was set against the whole or any part of the relevant sum,

(c)the amount set against that sum was an amount which is treated under section 47 above as not having been due from the Commissioners at the time when it was set against that sum, and

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