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SECTION 273AA - POWER OF COMMISSIONER TO GRANT IMMUNITY FROM PENALTY - Income Tax - Ready Reckoner - Income TaxExtract POWER OF COMMISSIONER TO GRANT IMMUNITY FROM PENALTY - SECTION 273AA (1) A person may make an application to the Commissioner for granting immunity from penalty, if- He has made an application for settlement under section 245C and the proceedings for settlement have abated under section 245HA; and The penalty proceedings have been initiated under this Act. (2) The application to the Commissioner shall not be made after the imposition of penalty after abatement. The Commissioner may, subject to such conditions as he may think fit to impose, grant to the person immunity from the imposition of any penalty under this Act.
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