Amendment status not verified — confirm the current text below against the official source.
(1) If an information comes to his knowledge and if the Commissioner is satisfied that any taxable goods chargeable to tax had escaped assessment in any return period or have been under assessed, he may at any time within eight years of the expiry of the return period, serve a notice on the dealer liable to pay tax in respect of such goods a notice, requiring him to furnish within such period as may he mentioned in the notice, a return of taxable goods purchased and may proceed to assess or reassess the dealer under provisions of this Act. Provided that the tax shall be charged at the rate at which it would ordinarily have been charged, had there been no escape or under assessment. Provided further that in computing the period of eight years specified in this sub-section, the period during which the Commissioner is restrained by an order of the Government or any Court from serving the notice under this sub-section shall be excluded. (2) The Commissioner may authorize any person appointed under section 3 to assist him in investigating any case or points in any case at any stage and to make a report thereon to the Commissioner or any prescribed authority in respect of all or any of the assessment made in relation to the case in order to prevent the evasion of tax, After considering the report of the investigating officer, the Commissioner may proceed to take action under sub-section (1) besides initiating any other action under this Act, against the dealer concerned. Rectification of assessment