Settlement Commission applications: amendment limits exemption to penalty and fine while preserving pending cases. The amendment removes interest from the list of items from which exemption may be granted, limiting exemptions to penalty and fine; inserts a saving explanation preserving disposal of applications pending before the Settlement Commission as if the amendment had not commenced; and changes a cross reference to the related provision, replacing a later sub section reference and deleting the clause permitting the Settlement Commission to grant further time, thereby modifying the timing mechanism for compliance.