The Commissioner shall direct any person to pay any amount of tax, interest or Asscssmeotof

penalty or other amount due under this Regulation after making of an assessment for such t". interest or amount payable by such person. penalty. 31. (1) Where areturn is furnished by a person as required under section26 or section Self 27 and which contains the prescribed inforn~ation and accompanies the relevant documents assessment' required to be accompanied under this Regulation and such person has complied with the other requirements specified under this ~eklation and the rules and orders made thereunder, an assessment of the tax payable ofthe amount specified in the return shall be deemed to have been made, under this Regulation, on the day on which such return was furnished.

1. (2) No assessment shall be deemed to have been made under sub-section (I), if the Commissioner has already made an assessment of tax in respect of the same tax period under any other provision of this Regulation. 32. (1) If any person- rnfault assessment of
   • (a) has not furnished returns required under this Regulation by the prescribed tax payable. date; or
2. (6) has furnished incomplete or incorrect returns; or
   • (c) has furnished a return which is not accompanied by the documents required to be filed alongwith the return under this Regulation or rules made thereunder; or
   • (d) has furnished a return which is not in comformity with the provisions ofthis Regulation or rules made thereunder, the Commissioner may, for reasons to be recorded in writing, assess or re-assess to the.best of his judgment the amount of net tax due for any tax periodor tax periods.
3. (2) Where the Commissioner has made an assessment under sub-section (I), the Commissioner shall forthwith serve on concerned person a notice ofsssessment oftheamount of any additional tax due for that tax period.
4. (3) Where the Commissioner has made an assessment under sub-section (I) and subsequently any further tax is assessed as due, the amount of further tax so assessed as due shall also be payable on the same date being the date on which the net tax for the tax period was due. 33. (1) Where the Commissioner has reason to believeihat a liabilityto pay a penalty Assessment of under section 86 has arisen, the Commissioner, after recording the reason in writing, shall penalty. serve on the person concerned a notice of assessment of the'penalty which has become due under this Regulation.
5. (2) The amount of any penalty assessed under this section shall become due on the date on which the notice of assessment has been served by tlte Commissioner. SERIES - I No. : 05 DATED isTH AUGUST, 2005.