44. Assessment of dealer who being liable to pay tax fails to register.

(1) If the assessing authority, on the basis of any information in his possession, is satisfied that any dealer, who has been liable to pay tax under this Act in respect of any period, has failed to get himself registered, the assessing authority shall proceed in such manner as may be prescribed to assess to the best of his judgement the amount of tax due from the dealer in respect of such period and all subsequent periods and, in making such assessment, shall give the dealer reasonable opportunity of being heard, and the assessing authority may, if he is satisfied that the default is without reasonable cause, direct the dealer to pay, in addition to the amount of tax so assessed, a penalty equal to the amountof tax so assessed.

(2) No assessment under sub-section (1) shall be made after the expiry of five years from the end of the tax period or tax periods to which the assessment relates.