(1)Subject to such conditions as may be prescribed, the [Luxury Tax Officer or any officer authorized under sub-section (1) of section 17 may] [Substituted by Act 10 of 1986 w.e.f. 31.3.1986], either before or after the institution of proceedings for an offence under this Act, permit any person who has committed or is suspected to have committed the offence to compound the offence on payment of such sum, not exceeding double the amount of tax to which the offence relates [as the Luxury Tax Officer or such authorized officer may] [Substituted by Act 10 of 1986 w.e.f. 31.3.1986] determine.(2)On payment of such sum as may be determined by the [Luxury Tax Officer or the authorized officer] [Substituted by Act 10 of 1986 w.e.f. 31.3.1986] under sub-section (1), no further proceedings shall be taken against the person in respect of the same offence.
