120. Period to which deferment of assessed tax relates
(1) Where, upon assessment of tax made under section 45 on any date within the eligible period as applicable to a dealer according to the provisions in this Part in respect of any period falling within such eligible period, it is found that an additional amount of tax is payable by such dealer in respect of sales or purchases referred to in sub-rule (1) of rule 115, and the aggregate of-
(a) the amount of tax due upon assessment in respect of such sales or purchases, and
(b) the total amount of tax claimed for deferment up to the return period preceding the date of such assessment,
(2) Where, upon assessment of tax made under section 45 after the expiry of the eligible period as referred to in sub-rule (1) in respect of any period falling within such eligible period, it is found that an additional amount of tax is payable by such dealer in respect of sales or purchases referred to in sub-rule (1) of rule 115, and the aggregate of -
(b) the total amount of tax claimed for deferment,
(3) Where a return period or a period of assessment, as the case may be, comprises two parts-
(i) one for which a dealer is eligible for deferment of payment of tax, and
(ii) the other for which he is not so eligible,
(a) where, after such calculation, an amount of tax becomes payable by a dealer in respect of the part referred to in clause (ii), he shall pay such amount and furnish his return for such period in accordance with the provisions of section 30, or
(b) where an amount of tax becomes due after assessment under section 45 in respect of the part referred to in clause (ii), the appropriate assessing authority shall specify in the notice to be issued under section 47 such amount and the date of payment thereof, and
(c) the amount of tax payable according to a return or the amount of tax due after assessment in respect of the part referred to in clause (i) shall be paid by the dealer according to the provisions of sub-section (7) of section 40 and the rules made thereunder.