Special provision regarding assessment

"41 .(3) Provided that where no notice under this sub-section is not issued to the dealer--

1. (a) on or before the 31st March, 1992, in relation to any year commencing on any day before the 31st March, 1990, or
2. (b) within a period of one year from the date by which the last quarterly or, as the case may be, annual return is required to be furnished under sub-section

1. (1) of section 40, in relation to any other year subsequent to the year referred to in clause (a), the dealer shall be deemed to have been assessed on the basis of and for the year for which quarterly returns or, as the case may be, annual return is furnished by the dealer: Provided further that nothing in the preceding provisos shall apply--
   • (a) to a dealer whose turnover of purchases or turnover of specified sales or turnover of sales during a year exceeds five lakhs rupees or the tax payable in respect of that year exceeds five thousand rupees;
   • (b) to a dealer who has not made payment of the amount of tax within the time prescribed for its payment under sub-section (1),
2. (2) or
3. (3) of section 47;
   • (c) to a dealer who has not filed the return within the prescribed time:
   • (d) to a dealer who makes on or before the 31st March, 1992, or as the case may be, within a period of one year referred to in clause
   • (b) in the preceding proviso, an application to the Commissioner for being assessed: Provided also that the Commissioner may, subject to such conditions as may be prescribed, including those relating to condonation of delay in payment of tax or filing a return, allow the deemed assessment in respect of such a dealer.".