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of <h1>Income-Tax Act Sections 245HA & 245HAA: Abatement of Proceedings and Tax Credit Procedures Explained</h1> Sections 245HA and 245HAA of the Income-tax Act, introduced by the Finance Act, 2007, address the abatement of proceedings before the Settlement Commission. Section 245HA stipulates that proceedings will abate if an application under section 245C is rejected, not allowed to proceed, declared invalid, or not resolved within a specified timeframe. In such cases, the Assessing Officer will handle the case as if no application was made, using all materials presented to the Settlement Commission. Section 245HAA provides that if an application abates, the Assessing Officer must credit any tax and interest paid before or during the Settlement Commission proceedings.
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