Assessment

Assessment :

1. (1) If the assessing authority is satisfied that a return furnished under section 10 is correct and complete or satisfactory, he shall determine the tax payable by assessee on the basis of such return.
2. (2) If the assessing authority is not satisfied with a return furnished under section 10, he shall serve on the assessee a notice requiring him, on the date and at the hour and place to be specified therein, either to attend in person or cause to be produced evidence in support of the return.
3. (3) On the date specified in the notice under sub-section
4. (2) the assessing authority after hearing such evidence as may be produced and such other evidence as he may require, shall assess the tax payable by assessee.
5. (4) If any person fails to make a return as required under section 10 or having made the return fails to comply with the terms of the notice issued under sub-section
6. (1) of section 10, the assessing authority shall assess and determine the tax payable by him: Provided that before making assessment, the assessing authority may allow the person such more time as he thinks fit to make the returns or to comply with the notice issued under sub-section
7. (2) of this section.