Assessment

(1) If the assessing authority is satisfied that a return furnished under section 7 is correct and complete he shall, by an order in writing, make assessment and determine the tax payable by the assessee on the basis of such return. (2) If the assessing authority is not satisfied that return furnished under section 7 is correct and complete. he shall serve on the person concerned 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 evidence in support. (3) On the days specified in the notice under sub-section (2) or as soon afterward as may be, the assessing authority, after hearing such evidence as may be produced and such other evidence as he may require, shall, by an order in writing, assess the income and determine the tax payable by him. (4) If any person fails to make a return as required by section 7 or having made the return fails to comply with the terms of the notice under sub-section (2), the assessing authority shall, by an order in writing, assess, to the best of his judgement, the income and determine the tax payable by him: Provided that before making assessments, the assessing authority may allow the person such further time as he thinks fit to make the return or comply with the terms of the notice issued under sub-section (2).