Assessment of Escaped Tax

(1) If the prescribed authority has reason to believe that any turnover of a dealer has escaped assessment or has been under-assessed or assessed at a rate lower than the rate at which it is assessable, or any deduction has been wrongly made, he may, at any time, within such period as may be prescribed, serve a notice on the dealer and after giving him a reasonable opportunity of being heard, proceed to assess or re-assess the amount of tax due from the dealer. (2) If any dealer concealed any particulars of his business or deliberately furnished inaccurate particulars of such turnover or suppressed any turnover, the prescribed authority may, after giving him a reasonable opportunity of being heard, impose on him a penalty, in addition to the tax assessed under sub-section (1), of an amount not exceeding three times the amount of tax so assessed. Any assessment of escaped tax or imposition of penalty under this section shall be made under the provisions of the Jharkhand Value Added Tax Act, 2005. (3) No order of assessment or re-assessment shall be made under this section after the expiry of such period as may be prescribed. The assessment or re-assessment made under this section shall be without prejudice to any prosecution instituted under the provisions of this Act. (1) If the prescribed authority is satisfied that the returns furnished by a dealer in respect of any period are correct and complete, he shall assess the amount of tax due from the dealer on the basis of such returns. (2) If the prescribed authority is not satisfied that the returns furnished by a dealer in respect of any period are correct and complete and he thinks it necessary to require the presence of the dealer or the production of further evidence, he shall serve on such dealer in the prescribed manner a notice requiring him on a date and at a place specified therein, either to attend in person or to produce or cause to be produced any evidence on which such dealer may rely in support of such return. (3) On the day specified in the notice or as soon afterwards as may be, the prescribed authority, after hearing such evidence as the dealer may produce and such other evidence as the prescribed authority may require on specified points and after taking into account all relevant material which the prescribed authority has gathered and after giving the dealer a reasonable opportunity of being heard, shall, by an order in writing, assess or re-assess the amount of tax due from the dealer. (4) [Omitted/Not present in text] (5) If the dealer fails to comply with the terms of any notice issued under sub-section (2), the prescribed authority, shall on the basis of the material available, assess to the best of his judgment the amount of tax due from the dealer. Any assessment made under this sub-section shall be without prejudice to any prosecution, instituted or which may be instituted, for an offence under this Act: Provided that before making any such assessment the prescribed authority shall give the dealer a reasonable opportunity of being heard. (1) Any tax together with interest and penalty payable under section 3, 5, 11, 12 and 13 of this Act, remains unpaid, shall be recovered in the manner herem provided: (a) the tax due according to the returns filed by an assessee where full payment of such tax under section 4 together interest and penalty has not been made: or (b) tax assessed or reassessed under section 11 or 12 or 13 or in pursuance of or as a result of an order on appeal, revision, reference or review, less the sum, if any, already paid by the assessee; or (c) penalty, if any, imposed under any of the provision of this Act, shall be paid by the assessee into a Government Treasury, or in such other manner, as may be prescribed by such date as may be specified in a notice issued by the prescribed authority for this purpose and the date to be so specified shall, ordinarily, not be less than thirty days form the date of service of such notice. (2) No proceeding under sub-section (1) or (2) of this section shall, be initiated except before the expiry of eight years from the date of order of the original assessment. (3) Where an observation has been made by the Comptroller and Auditor-General of India, in respect of an assessment or re-assessment made, and the prescribed authority is satisfied with the said observation, he shall proceed to re-assess the assessee with respect to whose assessment or re-assessment, as the case may be, the said observations bas been made. Provided that no order under this section shall be passed without giving the assessee an opportunity of being heard. Provided further if the prescribed authority is not satisfied with such audit objection(s); the view or the opinion of the commissioner in this regard; shall be final.