Penalty for evasion of tax

56.    If the Commissioner or the designated officer is satisfied that the person, in order to evade or avoid payment of tax -

(a)      has concealed any particulars from any return furnished by him; or

(b)      has deliberately furnished incorrect particulars therein; or

(c)      has concealed any transactions of sale or purchase from his account books;   or

(d)      has not maintained intelligible accounts, which prevent the Commissioner or the designated officer to assess the tax due from him; or

(e)      has availed input tax credit to which he is not entitled to; or

(f)       has claimed refund which was not due to him; or

(g)      has claimed credit in respect of tax, which was not actually paid,

he shall direct that the person shall pay, by way of penalty, in addition to the tax and interest payable by him, a sum equal to twice the amount of tax, assessed on account of the aforesaid reasons.