Immunity from penalty: Commissioner may grant conditional immunity for cooperation and full disclosure, withdrawable for concealment.

Section 18BA permits the Commissioner to grant conditional immunity from penalty where a person has applied for settlement and proceedings have abated and penalty proceedings have been initiated; the application must precede imposition of penalty after abatement. Immunity may be granted if the person, after abatement, cooperates with the wealth-tax authority and makes a full and true disclosure of net wealth and its derivation. Immunity is withdrawable for noncompliance or for concealment or false evidence, and upon withdrawal penalties apply as if immunity had not been granted.

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