Amendment status not verified — confirm the current text below against the official source.
Assessment of tax payable by registered dealers- (l) If norctums are fumished byadealerin respectofany period by theprescribed clate, or rhe prescribed authority is not satisfied thal the retums furnished are co(ect and complete, the prescribed authority shall proceed in suchmanneras may be prescribed to assess to the best of his.judgment the amount of tax due from the dealer, and in making such assessment, give a dealer a reasonable oppo(unity ofbeing heard. 34 ili (3) (4) lr) rhe case olfai[rre by lIrcgistered dea]er lo lltr'nish. in respect ofany period. a retum accornpanied by a r'ecciPl fuolr a Go\'ernmerl Treasur'y or the State Bank ofSikkim or any otherbank as may bc Dolilled by the Government as rcquircd under sub-secdon (9) olsection 3il. by th e prescribecl dale. thc frescribed arlthol ity may, ifit is satisfled that tlle clefadtwas mndc withoul reason abl e cause. cli rect rhal llle registcr ed dealer shall pay by way ol penahy ir iddition to theamountoftax so assesse.l asurn nolexccedingoneandahalftimes thal Where a rcgistered dealer brings to the noticc olthe plesclibed authority in wt iting olclinaily within slx monihs ilom thecnd oflhc yearlhat, dueto e orir lact or il'l la$,' an amourtofrz{ h|ts Lreen paid by him in excess olwhat was payable by him during any leturn period relalin! lo such r year and requcsts lhe prcscrihecl au thorily for mllking assessmcnl, proceed to nrake asscssmerll iir r-cspe.ll ofsuch yearbclore the expil-y oIthe period of]imitation provided in suh-seclion (2) olsection 12. Where upon scarch ot-seizure ofany accounts, registels or documents or olany goods ofa registered dealer'. or Llpon enquiry or informalioll received' theplssc bed aulhority has rcasons to believe thar thc dealer has not accollnleal for the tllmover ofsales olgoocls or pLlrchases oi goods asappearfrcm such accounts, rcgistem olClocuments in thehooks ofaccoLlnts relen-ilcl to in seclio0 54 or has nolshown such tllrnovcl-in his relum fumished under section 30 ir1 Iespect ofany relum Periocl. the Prcscdbecl aulhority shall proceed in such mal]nel as may be presc)-ibe.lto assess o the besl. olhis.judgmeDt the amount \)f tax payable by the dealer in rcspeol ofsuch relur n pc o.l aftcr' 8 i\' in g thc registeled dca;er a rcason ahle oppoltun ity of being hcald and dirc.l sLtch dealcrto pay lhe amount oflax so asscssed in such manner and by such datc as thepresclibed authority may decm fil. Ir the case olfailurc by the rcgistered dealer to iuBlish ln rcspect olany per-iod. a return accompanied by a rceipi fi om the Govemmcnt ljeasury or the State Bank of Sikkim or any other bank as may be notified by the Govemncnt rcquirc'd under sub section (5) ofsection 36 Lry lhe prcscribe.l .iale. lhc Prescibcd aulhority may. ilitis satisfred that thc default was made without roasonabl' .ause. dir€ct that [ho dea]er shall pay b, Nay olpenalty in addition to the aulollnt oftax so assesscd, a suir not exceeding one and a Ilalftimes ofthat amount (s) 35 trE r;E (!') (3) daie during the period conxnencing on the 1"rday ofJanuary and endillg or the 30rr'day of June: aid (b) after the 3l'' day ofDecember next following the expiry ofsix years lrom lhe erd ollhe year in respect ofvhich or part of which rhe assessmentis made' whele such six ycars end on any dale during the periotl commencing on the l" ofJuly and ending on the 31" tluy of December Norwithstanding anything contained in sr]b-seclion ( I ) or sub-section (2)' assessmenl ol tax due from a registered dealet notbeing seiected under section 40 for assessInent in rcsPect ol any yearcomprising a period or peiods, may be mnde befbre the expily ofsix years fiom the end of the year in rcspecl of which or palt ofwhich the assessment is made or was !o h:rvc bcen mirde. Notwilhstanding any*ring contained in sub-section (1) orsub-section (2) or sub-sectioo (3)' when a fresh assessmenl is rcquired to be made in pursuance ofan order under section 74 or section 75 or section 76 or section 77 or in pursuance ofany order of the Appellate Authorily or any cour1, such fresh assessment mry be mftle at any time within two yearc trom the date ol such ordet ln computing the rime limit for making any assessment underscction -'9 or section 40 the pedod during whicll the piescribed authority is restrajned fiom commencing orcontinuing rny proceedings by an otderofthe competent authority or any court shall be excluded'