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of <h1>Settlement Commission Can Grant or Revoke Immunity Under Section 273 for Tax Penalties Based on Applicant's Compliance</h1> The Settlement Commission has the authority to grant immunity to applicants under section 273 from penalties or prosecution related to the Direct Taxes Code, Income-tax Act, or Wealth-tax Act. Immunity is contingent upon the applicant's cooperation and full disclosure of income. Immunity can be revoked if the applicant fails to pay specified sums, comply with conditions, or conceals material information. If immunity is withdrawn, the individual may face prosecution for the original offense or related offenses and become liable for penalties as if immunity had never been granted.
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