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SECTION 245H - GRANT OF IMMUNITY FROM PROSECUTION BY SETTLEMENT COMMISSION - Income Tax - Ready Reckoner - Income TaxExtract SECTION 245H - GRANT OF IMMUNITY FROM PROSECUTION BY SETTLEMENT COMMISSION (1) The Settlement Commission may, if it is satisfied that any person who made the applivation for settlement u/s 245C has: co-operated with the settlement commission in proceedings before it and Has made a full and true disclosure of his income and the manner in which such iincome is derived, grant to such person, subject to conditions as it may think fit to impose, for the reasons to be recorded in writing immunity with respect to the case covered by Settlement, from:- Prosecution for any offence under Income-tax Act. Prosecution for any offence under Wealth tax Act. Either wholly or in part from the imposition of penalty under Income-tax Act, with respect to the case covered by the settlement. Provided that no such immunity shall be granted by the Settlement Commission in cases where the proceedings for the prosecution for any such offence have been instituted before the date of receipt of the application under section 245C No immunity from prosecution under any law if application is made on or after 1-6-2007:- The Settlement Commission shall not grant immunity from prosecution for any offence under the Indian Penal Code or under any Central Act other than this Act and the Wealth-tax Act, 1957 to a person who makes an application under section 245C on or after 1-6-2007. (2) An immunity granted by Settlement Commission shall be withdrawn by Settlement Commission if: The assessee fails to pay the sum specified in the order of Settlement passed under section 245D(4) within the time specified in the order or within such further time which Settlement Commission has allowed The assessee fails to comply with the conditions subject to which immunity was granted and thereupon the provisions of this Act, shall apply as if such immunity had not been granted. iii. If it is found that the assessee has concealed any particular material or has given false evidence to Settlement Commission 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 settlement and shall also 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. NOTES:- Immunity cannot be granted for prosecution under State Act Immunity from penalty cannot be granted under any Act other than Income-tax Act Immunity cannot be granted from penalties and prosecution if prosecution proceedings have been commenced before making an application u/s 245C but it can be granted only if penalty proceedings have been initiated in such cases. Where assessee did not offer entire comncealed income in application filed u/s 245C and the same was disclosed only when report of Commissioner was put beforehim, immunity from penalty and prosecutions could not be granted to assessee. [ CIT v Income Tax Settlement Commission ( 2014 (2) TMI 896 - DELHI HIGH COURT )]
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