Amendment status not verified — confirm the current text below against the official source.
(1) Subject to such conditions as may be prescribed, the Commis- sioner may, either before or after institution of criminal procedings under this Act, accept from the person who has committed or is reasonably sus- pected of having committed an offence under this Act or the rules made thereunder, by way of composition of such offence.-- (a) where the offence consists of the failure to pay, or the evasion of, any tax recoverable under this Act, in addition to the tax including interest if any or penalty or both so recoverable, a sum of money not exceeding one thousand rupees or double the amount of the tax recoverble, which- ever is greater, and (b) in any other case a sum of money not exceeding one thou- sand rupees in addition to tax recoverable. (2) On payment of such sum as may be determined by the Commis- sioner under sub-sectionm (1), no further proceedings shall be taken against the person concerned in respect of the same offence.