Section 14B in Andhra Pradesh General Sales Tax Act, 1957
14B. Assessment of sales shown in accounts at low prices.
(1)If the assessing authority is satisfied that a dealer has, with a view to evade the payment of tax, shown in his account sales or purchases of any goods at price which is less than fair market price of such goods, it may, at any time within a period of three years from the date on which any order of assessment was served on the dealer, assess or re assess the dealer to the best of the judgment on the turnover of such sales or purchases after making such enquiry as may be necessary and after giving the dealer a reasonable opportunity to show cause against such assessment.(1-A) While making the assessments under sub-section (1) above , the assessing authority shall adopt the highest value of the goods disclosed by the dealer to various statutory bodies or departments etc.(2)The provisions of section 14 including penalty shall apply to assessment and re assessment of escaped turnover under this section.
