Section 12B(5) in Andhra Pradesh (Agricultural Produce and Livestock) Markets Act, 1966
(5)Where for any reason, the whole or any part of the turnover of the trader has escaped assessment to market fees or has been under assessed or assessed at a rate lower than the correct rate, the assessing authority may, at any time within a period of three years from the date on which any order of assessment was served on the trader,(a)determine to the best of its judgement the turnover that has escaped assessment and assess the turnover so determined;(b)assess the correct amount of market fees payable on the turnover that has been under assessed;(c)assess at the correct rate the turnover that has been assessed at a lower rate, after issuing a notice to the trader and after making such inquiry as it considers necessary. The assessing authority, in addition to the market fees so assessed, also direct the trader to pay a penalty equal to two times the market fees.
