42. Time limit for Completion of assessment. - (1)(a) No order of assessment for a year or part of a year shall be made under sub-section (3) or (4) of section 41 at any time after the expiry of three years from the end of the year in which the last monthly, quarterly or as the case may be, annual return is filed.
(b)Where the Commissioner issues a notice under sub-section (6) of section 41 to any dealer for assessment of tax in respect of any period, no order of assessment shall be made for such part of the period, if any, as is prior to:-(i)a period of eight years ending on the last date of the year immediately preceding the year in which such notice is issued, in a case where the Commissions has reason to believe that such dealer has failed to apply for registration with intention to defraud Government revenue; and(ii)a period of four years ending on the last date as aforesaid, in any other case:Provided that for the purpose of this section if it is considered necessary so to do, the State Government may, subject to such conditions as it may deem fit, and the Commissioner may, subject to such conditions as may be prescribed, by a general or special order, stay, either generally or for a specified period, the assessment proceedings of a dealer or class of dealers:Provided further that in computing the period of limitation for the purposes of this section, any period during which assessment proceedings are stayed under the first proviso or by an order or injunction of any court or authority shall be excluded:Provided further that where a fresh assessment is required to be made in pursuance of any order under section 65, 67 or 69 or in pursuance of any order of any court or authority such fresh assessment shall be made at any time within three years from the date of such order.(2)Nothing in sub-section (i) shall apply to any assessment proceedings (including any notice issued) pending immediately before the appointed day.
