Determination of sale price and turnover in certain cases

Where in any proceeding under this Act before any authority, such authority has reason to believe that the sale price of any goods shown by the dealer in respect of any transaction of sale between related persons is less than the fair market price of sales by fifteen per cent. or more, then such authority may, after giving a reasonable opportunity of being heard to such dealer, determine the sale price of such goods, and the turnover of sales of such dealer shall be determined accordingly :

Provided that, where a question of determining sale price under this section arises in any proceeding before an authority below the rank of an Assistant Commissioner of Sales Tax, then the said authority shall refer the proceeding to such higher authority (not below the rank of an Assistant Commissioner of Sales Tax), as may be prescribed; and, notwithstanding anything contained in section 96, such proceeding shall be deemed to have been transferred to such higher authority, who shall, after giving the dealer a reasonable opportunity of being heard, determine the sale price of the goods involved in the proceeding and assess or reassess the amount of tax, interest, penalty and forfeiture, if any, due from the dealer, within a period of two years from the date on which such proceeding stands transferred to it.