(a)where a requisition is made under clause (a) of sub-section (3) of Section 55 or an inspection is conducted under clause (b) of the said sub-section against a dealer, the dealer, subject to such restrictions and conditions and in such manner as may he prescribed, may opt to pay in lieu of tax, interest and penalty payable under this Act, a lump sum amount equal to twice the amount of evasion of tax agreed to by the dealer relating to the block period on the basis of evidence found as a result of requisition or inspection, of books of account or other documents and such other materials or information as is available with the Commissioner and relatable to such evidence, at the time of requisition or inspection;
