Power of or Principal Commissioner or Commissioner to grant immunity from prosecution. – Section 278AB - Income Tax - Ready Reckoner - Income Tax

Power of Principal Commissioner or Commissioner to grant immunity from prosecution Section 278AB Where the proceedings for settlement have abated under section 245HA , the PCIT or CIT has been empowered to grant immunity from prosecution u/s 278AB The application for the immunity must be made by the assessee to the PCIT or CIT before institution of the prosecution proceedings after abatement. The or Principal Commissioner or Commissioner may, subject to such conditions as he may think fit to impose, grant to the person immunity from prosecution for any offence under this Act, if he is satisfied that the person has, after the abatement, co-operated with the income tax authority in the proceedings before him and has made a full and true disclosure of his income and the manner in which such income has been derived. Where the application for settlement under section 245C had been made before the 1st day of June, 2007, the PCIT or CIT may grant immunity from prosecution for any offence under this Act or under the Indian Penal Code or under any other Central Act for the time being in force. The immunity granted to a person shall stand withdrawn, if such person fails to comply with any condition subject to which the immunity was granted and thereupon the provisions of this Act shall apply as if such immunity had not been granted. The immunity granted may, at any time, be withdrawn by the or the PCIT or CIT, if he is satisfied that such person had, in the course of any proceedings, after abatement, concealed any particulars material to the assessment from the income-tax authority or had given false evidence, and thereupon such person may be tried for the offence with respect to which the immunity was granted or for any other offence of which he appears to have been guilty in connection with the proceedings.