(1)Where, after a dealer is assessed under section 39, 40 or 42 for any tax period, the assessing authority, on the basis of any information in his possession, is of the opinion that the whole or any part of the turnover of the dealer in respect of such tax period or tax periods has-(a)Escaped Assessment, or(b)Been under-assessed, or(c)Been assessed at a rate lower than the rate at which it is assessable;or that the dealer has been allowed-(i)Wrongly any deduction from his turnover, or(ii)Input tax credit, to which he is not eligible.the assessing authority may serve a notice on the dealer in such form and manner as may be prescribed and after giving the dealer a reasonable opportunity of being heard and after making such enquiry as he deems necessary, proceed to assess to the best of his judgement the amount of tax due from the dealer.
