(1) If the assessing authority is satisfied that a dealer has, with a view to evade the payment of tax, shown in his accounts, sale or purchase of any goods at prices lower than the prevailing fair price of such goods, it may estimate the value of each goods, on the basis of the prevailing market price and assess or reassess the dealer to the best of its judgment, after making such inquiry as it may consider necessary and after affording the dealer a reasonable opportunity of being heard.

(2) The provisions of sub-sections (2) to (4) of Section 19 shall apply to the assessment or reassessment under Sub-section (1).