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Section 74: Alternative punishments awardable by court-martial
Subject to the provisions of this Act, a court-martial may, on convicting a person subject to this Act of any of the offences specified in sections 34 to 70 inclusive, award either the particular punishment with which the offence is stated in the said sections to be punishable, or, in lieu thereof, any one of the punishments lower in the scale set out in section 73, regard being had to the nature and degree of the offence.
Source: official text of The Air Force Act, 1950 as published on India Code (PDF). All sections of the Air Force Act, 1950.