HC set aside orders granting immunity from prosecution and penalty to Respondents u/s 245H(1) of IT Act....

The High Court set aside the orders granting immunity from prosecution and penalty to the Respondents under Section 245H(1) of the Income Tax Act. The Assessee did not make a full and true disclosure of undisclosed income initially before the Settlement Commission, and the practice of disclosure in instalments was deemed impermissible. Consequently, the matter was remanded for reconsideration regarding the granting of immunity. Furthermore, a review petition was dismissed as there was no error apparent on the record. .....

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