Section 11-709. Refunds

a.  In  the  manner  provided in this section the
  commissioner of finance shall refund or credit,  without  interest,  any
  tax,  penalty  or  interest erroneously, illegally or unconstitutionally
  collected or paid, if written application to the commissioner of finance
  for such refund shall be made within eighteen months from the date fixed
  by this chapter for filing the return on which such payment was based or
  within six months of the payment  thereof,  whichever  of  such  periods
  expire  the  later.  Whenever  a refund or credit is made or denied, the
  commissioner of finance shall state his or her reason therefor and  give
  notice  thereof  to the taxpayer in writing. The commissioner of finance
  may, in lieu of any refund required to be made, allow credit therefor on
  payments due from the applicant.
    b. Any determination of the commissioner of finance denying  a  refund
  or  credit  pursuant to subdivision a of this section shall be final and
  irrevocable unless the applicant  for  such  refund  or  credit,  within
  ninety days from the mailing of notice of such determination, or, if the
  commissioner   of  finance  has  established  a  conciliation  procedure
  pursuant  to  section  11-124  and  the  applicant   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. Such petition for
  a refund or  credit,  made  as  herein  provided,  shall  be  deemed  an
  application  for  a  revision of any tax, penalty or interest complained
  of. Such hearing of 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 section 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  applicant  and  to  the
  commissioner  of finance. The applicant shall be entitled to institute a
  proceeding pursuant to article seventy-eight of the civil  practice  law
  and  rules  to  review a decision of the tax appeals tribunal sitting en
  banc if application to the supreme court be made  therefor  within  four
  months after the giving of notice of such decision, and provided, in the
  case  of an application by a taxpayer, that a final determination of tax
  due was not previously made. Such a proceeding shall not  be  instituted
  by  a  taxpayer  unless  an  undertaking  shall  first be filed with the
  commissioner of finance, 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.
    c.  A  person  shall  not  be entitled to a revision, refund or credit
  under this section  of  a  tax,  interest  or  penalty  which  had  been
  determined  to  be  due  pursuant to the provisions of section 11-708 of
  this chapter where such person has had a hearing or an opportunity for a
  hearing, as provided in said section, or has failed to avail himself  or
  herself  of  the remedies therein provided. No refund or credit shall be
  made of a tax, interest or penalty paid after  a  determination  by  the
  commissioner  of finance made pursuant to section 11-708 of this chapter
  unless it be found that such determination  was  erroneous,  illegal  or
  unconstitutional,  or  otherwise  improper,  by the tax appeals tribunal
  after a hearing, or, if such tax appeals tribunal affirms in whole or in
  part the determination of the commissioner of finance, in  a  proceeding
  under  article  seventy-eight  of  the  civil  practice  law  and rules,
  pursuant to the provisions of said section, in  which  event  refund  or

  credit  without  interest  shall be made of the tax, interest or penalty
  found to have been overpaid.