Amendment status not verified — confirm the current text below against the official source.
Accounts - (1) If the prescribed authority is satisfied that the books of account and other documents maintained by an assessee in the normal course of bis business are not adequate for verification of the returns submitted by the employer under this Act, il shall be lawful for the prescribed authority to direct the employer to maintain the books of account or other documents in such manner as be may in writing direct, and thereupon the assessee shall maintain such books or other documents accordingly. (2) Where an assessee willfully fails to maintain the books of accounts or other documents as directed under sub-section (I), the prescribed authority may, after giving him a reasonable opportunity of being beard, impose a penalty not exceeding rupees fifty for each day of such default. sansfying himself as to the legality of propriety of such order and pass such order thereon as he deems fit. (2) No application under sub-section (l) shall be enterrained if n is nor made within a period of four months from the date of receipt of the order and unless it is accompanied by a fee calculated at the rate of two percent of the tax or penalty under dispute subject to a minimum of rupees one hundred and a maximum of rupees two thousand. (3) Tbe powers of revision shaJJ be exercised within such period not exceeding four years from the date on which the order was served on the assessee. (4) No order which adversely affects any assessee shall be passed under this section, unless such assessee bas been given a reasonable opportunity of being heard. (5) Where the Commissioner rejects any application for revision under this section. he shall record the reasons for such rejection. ( 6) Where an order has been passed under section 14 and sub-section ( l) of this section, may be revised by the Tribunal. 28 I I 20 Refund of excess - The pres6ribed authority shall refund to assessee the amount of tax. penalty interest or other amount, if any, paid by such assessee in excess of the amount due from him. The refund may be made either by cash or, at the option of the assessee by deduction of such excess from tbe amount of tax, penalty interest or other amount due in respect of any other period: