Section 11-1106. Determination of tax

In case the return required by this
  chapter shall be insufficient or unsatisfactory or if such return is not
  filed, the commissioner of finance shall determine the amount of the tax
  due from such information as is obtainable, and if necessary the tax may
  be estimated  upon  the  basis  of  external  indices.  Notice  of  such
  determination shall be given to the person liable for the payment of the
  tax.  Such  determination  shall  finally  and  irrevocably fix such tax
  unless the person against whom it is assessed, within ninety days  after
  the  giving  of  notice of such determination or, if the commissioner of
  finance has established a conciliation  procedure  pursuant  to  section
  11-124  of  the  code  and  the  taxpayer  has  requested a conciliation
  conference in accordance therewith, within ninety days from the  mailing
  of   a   conciliation   decision  or  the  date  of  the  commissioner's
  confirmation of the discontinuance of the conciliation proceeding,  both
  (1)  serves  a petition upon the commissioner of finance and (2) files a
  petition with the tax appeals tribunal for a  hearing,  or  unless  such
  commissioner  of  his or her own motion shall redetermine the same. Such
  hearing and any appeal to the tax appeals tribunal sitting en banc  from
  the  decision  rendered in such hearing shall be conducted in the manner
  and subject to the requirements prescribed by the tax  appeals  tribunal
  pursuant  to  sections  one  hundred  sixty-eight  through  one  hundred
  seventy-two of the charter. After such hearing the tax appeals  tribunal
  shall  give notice of its decision to the person against whom the tax is
  assessed and to the commissioner of  finance.  A  decision  of  the  tax
  appeals  tribunal  sitting  en  banc  shall  be  reviewable  for  error,
  illegality, unconstitutionality or any  other  reason  whatsoever  by  a
  proceeding  under  article  seventy-eight  of the civil practice law and
  rules if instituted by the person against  whom  the  tax  was  assessed
  within  four  months  after the giving of the notice of such tax appeals
  tribunal decision. A proceeding under such article of such law and rules
  shall not be instituted by a taxpayer unless (a) the amount of  any  tax
  sought to be reviewed with penalties and interest thereon, if any, shall
  first  be  deposited with the commissioner of finance and there shall be
  filed with such commissioner an undertaking, issued by a surety  company
  authorized  to  transact  business  in  this  state  and approved by the
  superintendent  of  insurance  of  this  state  as   to   solvency   and
  responsibility,  in  such  amount and with such sureties as a justice of
  the supreme court shall approve, to the effect that if  such  proceeding
  be  dismissed  or the tax confirmed, the taxpayer will pay all costs and
  charges which may accrue in the prosecution of the proceeding, or (b) at
  the option of the taxpayer such undertaking filed with the  commissioner
  of  finance may be in a sum sufficient to cover the taxes, penalties and
  interest thereon stated in such decision, plus  the  costs  and  charges
  which  may  accrue  against  it in the prosecution of the proceeding, in
  which event the taxpayer shall not be required to  deposit  such  taxes,
  penalties and interest as a condition precedent to the application.