February 5, 2025

Procedure when assessee claims identical question of law is pending before High Court or Supreme Court 1) Notwithstanding anything contained in this Act, where an assessee claims that any question of law arising in his case for an assessment year which is pending before the 80[Assessing Officer] or any appellate authority (such case being hereafter in

Power of Commissioner to grant immunity from penalty. (1) A person may make an application to the Commissioner for granting immunity from penalty, if— (a)   he has made an application for settlement under section 22C and the proceedings for settlement have abated under section 22HA; and (b)   the penalty proceedings have been initiated

Power to reduce or waive penalty in certain cases (1) Notwithstanding anything contained in this Act, the 65[66[***] Commissioner] may, in his discretion, whether on his own motion or otherwise,— (i)   67[***] (ii)   reduce or waive the amount of penalty imposed or imposable on a person under clause (iii) of sub-section (1) of section

Penalty for failure to answer questions, sign statements, furnish information, allow inspection, etc. (1) If any person,— (a)   being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by a wealth-tax authority in the exercise of his powers under this