IncomeTaxManagement: [Section 270AA]- Immunity from imposition of Penalty and initiation of proceedings under section 276C or 276CC

Table of Contents

(1) [Section 270AA(1)]- Conditions to be fulfilled for making an application for grant of Immunity from imposition of penalty under section 270A and initiation of proceedings under section 276C or 276CC .
(2) [Section 270AA (2)]- Time period for making an application
(3) [Section 270AA (3)]-The Assessing Officer shall grant immunity from imposition of penalty or initiation of proceedings under section 276C or 276CC except in case of misreporting of income .
(4) [Section 270AA (4)]- Assessing Officer to pass an order within one month accepting or rejecting the application referred to in section 270AA (1)
(5) [Section 270AA(5)]- Order passed under Section 270AA (4) to be final
(6) [Section 270AA (6)]- Assessment / Re-Assessment order passed after accepting the application under section 270AA (4) is not appealable or subject to revision
(7) [Section 273AA]- Power of Principal Commissioner or Commissioner to grant immunity from penalty

o (1) [Section 273AA(1)]- When can application be made for grant of immunity?:

o (2) [Section 273AA(2)]-Application cannot be made after imposition of penalty after abatement:

o (3) [Section 273AA(3)]: -Principal Commissioner or Commissioner may grant immunity subject to certain conditions

o (4) [Section 273AA(3A)]-Time limit for passing order under section 273AA(3):

o (5) [Section 273AA(4)]-Immunity shall stand withdrawn, if there is a failure to satisfy the conditions:

o (6) [Section 273AA(5)]-Immunity to be withdrawn if there is concealment of particulars or any false evidence:

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[Section 270AA]- Immunity from imposition of Penalty and initiation of proceedings under section 276C or 276CC

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