(1) Subject to section 100, where, in relation to an assessment—
(a) no valid notice of objection is given under section 106;
(b) subsequent to the determination of an objection, no valid notice of appeal is given under section 109; or
(c) an appeal is determined and there is no right of further appeal,
such assessment is final and conclusive.
(2) Subsection (1) does not prevent the Comptroller from making an additional assessment within such time limits as are permitted by section 102 for any year of income which does not involve re-opening any matter which has been determined on appeal for such year.
(3) Despite subsections (1) and (2) where any fraud or wilful default has been committed by or on behalf of any person in relation to his or her liability to tax for any year of income, the Comptroller may make an additional assessment for such year even though it may involve re-opening a matter which has been determined on appeal, but only in respect of a matter upon which no finding of fact was in dispute.