(1)The accounts, registers, documents and vouchers relating to stock of luxuries of a stockist and such other evidence required to explain the return referred to in rule 13 shall be preserved for a period of not less than eight years, after the expiry of the period to which they relate or six years after the date of assessment or appellate order, as the case may be,whichever ends earlier. Any loss of the aforesaid accounts, registers or documents shall be reported as soon as possible to the Officer-in-Charge of the nearest police-station and to the appropriate Luxury Tax Officer.(2)Any breach of Sub-section (1) shall be punishable with fine not exceeding five hundred rupees and when the offence is a continuing one, with a daily fine not exceeding twenty-five rupees during the continuance of the offence.
