(1)If any person—(a)fails to furnish the return required under section 263(1) or (4) or (5) or (6); or(b)fails to comply with all the terms of a notice issued under issued under to comply with a direction section 268(1) or fails section 268(5); or(c)having made a return, fails to comply with all the terms of a notice issued under section 270(8),the Assessing Officer, after taking into account all relevant materials which he has gathered, shall, after giving the assessee an opportunity of being heard, make the assessment of the total income or loss to the best of his judgment and determine the sum payable by the assessee on the basis of such assessment.
