Punishment for possession of liquor unlawfully imported or for non-payment of duty, etc

Whoever has in his possession, any liquor, knowing that it shall be liable to penalty for having unlawfully imported, transported or manufactured, or knowingly avoids payment of duty for possession of liquor, shall be punishable with imprisonment for a term which may extend to six months and with fine which may extend to one lakh rupees, or five times the value of liquor, whichever is higher.