(1)An assessment-(a)of a person who is liable to get registration but has not got himself registered; or(b)in which, for any reason, the levy of tax or any fee or sum payable under the Act has been escaped wholly or in part; or(c)wherein tax has been wholly or in part un-assessed or under assessed in any way or under any circumstances,shall be deemed an escaped assessment and the assessing authority shall on the basis of the material on record or after making such enquiry as it may consider necessary, complete such assessment within the time limit provided in sub-section (3).Explanation.- The assessment under this section shall not include that part of business which has already been assessed under Section 29.(2)Where the Commissioner or a Deputy Commissioner (Administration) has reason to believe that a dealer has escaped assessment to tax in any manner provided in sub-section (1), he may at any time, subject to the time limit specified in sub- section (3), either direct the assessing authority to assess the tax or the fee or other sum or himself proceed to assess the same.(3)No notice under sub-section (1) and (2) shall be issued in respect of any escaped assessment for any year after the expiry of five years and no assessment under the said sub-sections shall be completed after the expiry of eight years, from the end of the relevant assessment year; but this limitation shall not be applicable to any assessment to be made in consequence of, or to give effect to, any finding or direction contained in order passed by an appellate authority or the Tax Board or a competent court.
