MISCELLANEOUS PROVISIONS error was made or an overpayment claimed by such taxpayer, as the case may be, for the taxable year with respect to which the error was made, and as if on the date of the determination specified in subsec- tion (b) one year remained before the expiration of the periods of limitation upon assessment or filing claim for refund for such taxable year. (d) ASCERTAINMENT OF AMOUNT OF ADJUSTMENT.-In computing the amount of an adjustment under this section there shall first be ascertained the tax previously determined for the taxable year with respect to which the error was made. The amount of the tax previ- ously determined shall be (1) the tax shown by the taxpayer, with respect to whom the error was made, upon his return for such taxable year, increased by the amounts previously assessed (or collected with- out assessment) as deficiencies, and decreased by the amounts previ- ously abated, credited, refunded, or otherwise repaid in respect of such tax; or (2) if no amount was shown as the tax by such tax- payer upon his return, or if no return was made by such taxpayer, then the amounts previously assessed (or collected without assess- ment) as deficiencies, but such amounts previously assessed, or col- lected without assessment, shall be decreased by the amounts pre- viously abated, credited, refunded, or otherwise repaid in respect of such tax. There shall then be ascertained the increase or decrease in the tax previously determined which results solely from the cor- rect exclusion, inclusion, allowance, disallowance, recognition, or non- recognition, of the item, inclusion, deduction, credit, gain, or loss, which was the subject of the error. The amount so ascertained (to- gether with any amounts wrongfully collected, as additions to the tax or interest, as a result of such error) shall be the amount of the adjustment under this section. (e) ADJUSTMENT UNAFFECIED BY OTHER ITEMS, ETC. - The amount to be assessed and collected in the same manner as a deficiency, or to be refunded or credited in the same manner as an overpayment, under this section, shall not be diminished by any credit or set-off based upon any item, inclusion, deduction, credit, exemption, gain, or loss other than the one which was the subject of the error. Such amount, if paid, shall not be recovered by a claim or suit for refund or suit for erroneous refund based upon any item, inclusion, deduc- tion, credit, exemption, gain, or loss other than the one which was the subject of the error. (f) No ADJUSTMENT FOR YEARS PRIOR TO 1932. -No adjustment shall be made under this section in respect of any taxable year beginning prior to January 1, 1932. SEC. 3802. SEPARABILITY CLAUSE. If any provision of this title, or the application thereof to any person or circumstances, is held invalid, the remainder of the title, and the application of such provisions to other persons or circum- stances, shall not be affected thereby. 98907-39--PT. --- 31 473
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