Amendment status not verified — confirm the current text below against the official source.
ASSESSMENT : (1) If the assessing authority is satisfied that a return furnished under section 7 is correct and complete, he shall by an order in writing, assess the person and determine the tax payable by him on the basis of such return. (2) If the assessing authority is not satisfied that a return furnished under section 7 is correct and complete, he shall serve on the person concerned a notice requiring him, on such date, hour and place to produce evidence in support of the return. (3) On the day specified in the notice under sub-section (2) or as soon after wards as may be, the assessing authority, after hearing such evidence as may be produced and such other evidence as he may require, shall by an order in writing, assess the person and determine the tax payable by him. (4) If any person fails to make a return as required by section 7 or having made the return fails to comply with the terms of the notice issued under sub-section (2), the assessing authority shall, by an order in writing, assess to the best of his judgement the person and determine the tax payable by him: Provided that before making assessment, the assessing authority may allow the person such fur- ther time as he thinks fit to make the return or comply with the terms of the notice issued under sub-section (2). Ex-514/95 - 4 -