Dispute Resolution Committee may waive penalties for under-reporting, including already imposed liabilities, effective March 1, 2026.

The amendment expands the Dispute Resolution Committee's authority by substituting "waive any penalty imposed or imposable" for "waive any penalty imposable," expressly permitting waiver of penalties already imposed as well as those that may be imposed, including penalties for under reporting of income, within the Committee's existing eligibility, procedure and binding order framework; the change is retrospective to 1 March 2026.

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