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2017 (2) TMI 861 - HC - Income TaxPenalty u/s 271D and 271E - whether Section 245H of the Act excludes Sections 271D and 271E of the Act from the benefit of immunity by the Commission - Power of Settlement Commission to grant immunity from prosecution and penalty - Held that:- Mr. Setalvad very fairly states that Section 245H of the Act does not exclude the aforesaid two Sections namely – Sections 271D and 271E of the Act from the province of the Commission to grant immunity under Section 245H of the Act. In the above view, the mere fact that the Tribunal mistakenly records that the Respondent-Assessee is not entitled to grant immunity from levy of penalty under Sections 271D and 271E of the Act will not make the impugned order vulnerable on the above ground. This is a mistake on the face of it, as there is no such exclusion from Section 245H of the Act of Sections 271D and 271E of the Act, for grant of immunity. It is possibly for this reason that the Petitioner had not filed any rectification application on the above account, seeking withdrawal of immunity from penalty, in view of the above recording by the Commission. In fact, if the entire paragraph 39 of the impugned order which deals with the issue of waiver of penalty is read, it is very clear that the Commission sought to grant partial immunity in respect of penalty imposed under Sections 271D and 271E of the Act. Therefore, the exercise of restoring the issue to the Commission to freshly determine the issue of penalty, would in the present facts be an academic exercise. In the above view, the aforesaid objections on the part of the Petitioner also does not warrant any interference.
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