(1) Subject to such conditions as may be prescribed the assessing authority may either before or after the institution of a criminal proceeding under the - ~ c t , acceptedfiom the who has committed or iireasonably suspected ofhaving committed an offence under this act or the rules made thereunder, - by way of composition of suchoffence,
(a) where the offence consists of the failure to pay or the evasionof any tax recoverable under this Act in addition to the tax so recoverable, a sum of money not exceeding one thousand rupees or double the amount of tax recoverable, if any, whichever is greater, and
(b) in any other case a sum of money not exceeding one thousand rupees in addition to the tax recoverable.
(2) On payment of such sum, no Merproceeding shall be taken against the person in respect of the same offence;