Section 11-708. 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 of finance 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 conciliation of finance and (2) files a petition with
  the tax appeals tribunal for a hearing, or unless  the  commissioner  of
  finance  of  the  commissioner's  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,  provided,  however,
  that  any  such  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 interest and penalties
  thereon, if any,  shall  be  first  deposited  and  there  is  filed  an
  undertaking with the commissioner of finance, 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 such proceeding  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.