Power of Settlement Commission to grant immunity.
283. (1) The Settlement Commission may, subject to such conditions as it may think fit to impose, grant to a person who made application under section 273, immunity, with respect to the case covered by the settlement, from—
(a) imposition of any penalty under this Code or under the Income-tax Act, 1961 or the Wealth-tax Act, 1957 as they stood immediately before the commencement of this Code; or
(b) prosecution for any offence under this Code or under the Income-tax Act, 1961 or the Wealth-tax Act, 1957 as they stood immediately before the commencement of this Code, instituted after the date of receipt of application under section 273 by the Settlement Commission.
(2) The Settlement Commission shall grant immunity under sub-section (1) only if it is satisfied that the person has—
(a) co-operated with the Settlement Commission in the proceedings before it; and
(b) made a full and true disclosure of his income, and the manner in which such income has been derived, in the application for settlement.
(3) An immunity granted to a person under sub-section (1) shall stand withdrawn, if such person—
(a) fails to pay any sum specified in the order passed under sub-section (1) of section 277 within the time allowed by the Settlement Commission;
(b) fails to comply with any other condition subject to which the immunity was granted; or
(c) had, in the course of the settlement proceedings, concealed any particular material to the settlement or given false evidence.
(4) The person, in whose case the immunity is withdrawn under sub-section (4),—
(a) may be tried—
(i) for the offence with respect to which the immunity was granted;
(ii) for any other offence of which he appears to be guilty in connection with the settlement;
(b) shall become liable to the imposition of any penalty under this Code to which he would have been liable, had the immunity not been granted.
