Assessment of tax

Assessment of tax

1. (1) If the prescribed officer is satisfied that any return furnished under section 5 is correct and complete, he shall accept the return.
2. (2) If the prescribed officer is not satisfied that any return furnished under section 5 is correct and complete, he shall serve on the licensee a notice requiring him, on the date and at the hour and place to be specified therein, either to attend in person or to produce or cause to be produced any evidence on which the licensee relies in support of his return.
3. (3) On the day specified in the notice or as soon afterwards as may be, the prescribed officer shall, after hearing such evidence as the licensee may produce and such other evidence as the prescribed officer may require on specified points, by an order in writing, assess the amount of tax payable by the licensee.
4. (4) If a licensee fails to furnish the return required by section 5 or having furnished the return, fails to comply with the terms of the notice issued under sub-section (2), the prescribed officer shall, by an order in writing, assess to the best of his judgment the amount of tax payable by the licensee: