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of <h1>Clause 440: Assessees can apply for immunity from penalties by paying dues and not appealing. Final decisions, no appeals.</h1> Clause 440 of the Income Tax Bill, 2025, outlines the process for an assessee to apply for immunity from penalties and prosecution. To qualify, the assessee must pay the tax and interest as per the assessment order and refrain from filing an appeal. The application must be submitted within one month of receiving the order. The Assessing Officer will grant immunity if conditions are met and no appeal period remains. Immunity is not granted if penalties are initiated under specific circumstances. Decisions on applications are final, and no appeals or revisions are allowed once acceptance is granted.
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