10. Non-assessment or under-assessment

(1) If for any reason a turnover of a dealer has escaped assessment or has been under-assessed ant it is proposed to assess or re-assess it, the Commissioner shall serve on the dealer a notice in Form III calling upon him to furnish a return in Form I within one calendar month from the date of receipt of such notice.

(2) Such notice may also require the dealer to attend in person or by his agent at the office of the authority issuing the notice on the date specified therein and produce or cause to be produced the accounts and documents specified in the notice, and to show cause, in cases where such escapement or under-assessment is due to the dealer having concealed particulars of his turnover or having without sufficient cause furnished incorrect particulars thereof, why in addition to the amount of tax a penalty not exceeding one and a half times that amount should not be imposed on him.