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of <h1>Amendment to Section 279: Prosecution Halted if Penalties Waived Under Sections 270A and 273A from 2017 Onwards.</h1> Clause 107 of the Finance Bill, 2016 amends section 279 of the Income-tax Act. It specifies that prosecution for offences under sections 276C or 277 will not proceed if penalties under section 270A, in addition to those under clause (iii) of sub-section (1) of section 271, are reduced or waived under section 273A. This amendment is effective from April 1, 2017, and applies to the assessment year 2017-2018 and subsequent years. The amendment ensures that prosecution requires the involvement of high-ranking tax officials such as the Principal Chief Commissioner or equivalent authorities.
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