Section 28 in The M.P. Vanijyik Kar Adhiniyam, 1994
28. Assessment of turnover escaping assessment.
(1)Where an assessment has been made under this Act or the Act repealed by this Act and if for any reason any sale or purchase of goods chargeable to tax under this Act or the Act repealed by this Act during any period has-been under assessed or has escaped assessment or assessed at a lower rate or any deduction has been wrongfully made therefrom or a set off has been wrongly allowed, the Commissioner may, at any time within five calender years from the date of order of assessment after giving the dealer a reasonable opportunity of being heard and after making such enquiry as he considers necessary, proceed in such manner as may be prescribed to reassess within a period of two calender years from the commencement of such proceedings the tax payable by such dealer and the Commissioner may, where the omission leading to such reassessment is attributable to the dealer, direct that the dealer shall pay by way of penalty in addition to the amount of tax so assessed, a sum not exceeding that amount.(2)The reassessment made under sub-section (1) shall be at the rate at which it would have been made had there been no under assessment or escapement or wrong deduction.(3)If for any reason licence fee, registration fee or exemption fee has escaped levy or has been charged at a lower rate in any year, the Commissioner may at any time within a period of three calender years next succeeding that to which such fee relates, levy the correct amount of the fee payable in respect of that year after issuing a notice to the dealer and after making such enquiry as he considers necessary and the Commissioner may direct that the dealer shall pay by way of penalty in addition to the amount of fee so levied, a sum equal to that amount.
