Section 11-2407. Determination of tax

If a return required by this chapter
  is not filed, or if a return when filed is  incorrect  or  insufficient,
  the  commissioner  shall  determine  the  amount  of  tax  due from such
  information as may be obtainable and, if necessary, may estimate the tax
  on 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  the  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 the 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  or
  unconstitutionality or any other reason whatsoever by a proceeding under
  article seventy-eight of the civil practice law and rules if application
  therefor is made to the supreme court 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 article seventy-eight
  of the civil practice 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 be  first  deposited  with
  the  commissioner  and  there  shall  be  filed with the 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 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 proceedings or (b) at
  the  option of the taxpayer, such undertaking may be in a sum sufficient
  to cover the taxes, interest and penalties 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 pay
  such  taxes,  interest  or  penalties  as  a  condition precedent to the
  application.