Escaped assessment

(1) If upon information which has come into his possession, the prescribed authority is satisfied that any taxable goods have escaped assessment or have been under-assessed or have been assessed at a rate lower than the rate at which it is assessable or any deduction has been wrongly made, he may, subject to the provisions of sub-section (2), within such period as may be prescribed, proceed to assess or re-assess the amount of tax due from the dealer in respect of such goods: Provided that nothing in this section shall apply to any assessment or re-assessment already made under section 13 or 14. (2) The prescribed authority shall not initiate proceedings under this section unless the dealer has been given a reasonable opportunity of being heard. (3) In the event of failure of the dealer to comply with the provisions of this Act or the rules framed thereunder, the prescribed authority may, after such enquiry as he considers necessary and after giving the dealer a reasonable opportunity of being heard, pass an order of assessment or re-assessment to the best of his judgment.