(2)If any person being a dealer liable to pay tax under this Act or being a dealer who was required to do so by the Commissioner by notice served on him, fails to maintain accounts in the manner specified in sub-section (1) of section 58, or fails when directed to do so under that section to keep any accounts or record in accordance with the direction, he shall be liable to pay in addition to any tax for which he may be liable, a penalty of the amount not exceeding two thousand rupees or double the amount of tax which would have been, payable had there been no such contravention, whichever is less.
