7. Cancellation of assessment in certain cases.

Where an assessee, within one month from the service of a notice of demand issued as herein0after provided, satisfies the assessing authority that he was prevented by sufficient cause from making the return required by section 4 or that he did not receive the notice issued under sub-section (3) or sub-section (5) of that section or sub-section (2) of section 5 or that he had not a reasonable opportunity to comply, or was prevented by sufficient cause from complying, with the terms of any such notice the assessing authority shall cancel the assessment and proceed to make a fresh assessment in accordance with the provisions of section 5.