Section 502 Of Article 3. Arbitrary And Penal Assessments From California Revenue And Taxation Code >> Division 1. >> Part 2. >> Chapter 3. >> Article 3.

. If any person willfully conceals, fails to disclose, removes, transfers or misrepresents tangible personal property to evade taxation which results in an assessment lower than that which would otherwise be required by law, the assessor on discovery shall assess the property in the lawful amount and impose the penalty provided for in Section 504.