Amendment expands immunity from tax penalty and prosecution where tax, interest and 100% additional tax on under reported income are paid. Section 270AA is amended to permit immunity from penalty under section 270A and immunity from initiation of prosecution under sections 276C/276CC where the assessee pays tax and interest as per the assessment/reassessment within the demand period, pays an additional tax of 100% of tax on under reported income in lieu of certain penalties, has not filed an appeal against those orders, and applies within one month after the month of receipt; the Assessing Officer shall grant immunity after the appeal period expires, but not if proceedings under Chapter XXII have been initiated.