Property escaping assessment

A. Property escaping assessment.--

1. (1) If the Assessing Authority has reason to believe that any property has escaped assessment by reason of destruction or misplacement of valuation list prepared under section 7 and 8 of this Act or for any other reason, he may issue a notice calling for a return in the manner prescribed for under section 7 of this Act.
2. (2) After the receipt of the return, the Assessing Authority shall make an order of assessment and demand the tax payable in accordance with the provisions of this Act: Provided that if the Assessing Authority is not satisfied with the correctness of the return, he shall convey to the assessee the material which he proposed to used for making assessment and give the assessee a reasonable opportunity of being heard.
3. (3) If the assessee fails to furnish the return required under sub-section (1), the Assessing Authority shall Convey to the assessee the material proposes to be use for making assessment and give a reasonable opportunity of being heard.
4. (4) The provisions of this Act relating to recovery of tax, penalty and institution of proceedings shall apply to the assessment under this section.