Power of Principal Commissioner or Commissioner to grant immunity from penalty - Section 273AA

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..... al Commissioner or Commissioner for granting immunity from penalty, if- he has made an application for settlement u/s 245C and the proceedings for settlement have abated u/s 245HA ; and the penalty proceedings have been initiated under this Act. (2) Application cannot be made after imposition of penalty after abatement [ Section 273AA(2) ] The application to the Principal Commissioner or Commissio .....

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..... period of twelve months from the end of the month in which the application under the said sub-section is received by the Principal Commissioner or the Commissioner. However, no order rejecting the application, either in full or in part, shall be passed unless the assessee has been given an opportunity of being heard. where any application is pending as on the 1st day of June, 2016, the order shal .....

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..... ment from the income-tax authority or had given false evidence, and thereupon such person shall become liable to the imposition of any penalty under this Act to which such person would have been liable, had not such immunity been granted. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - taxmanagementin .....

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