https://www.taxtmi.com/acts?id=53874 Section 440 is amended to provide for waiver of penalty and immunity from prosecution. An assessee may apply to the Assessing Officer if the tax, interest, and any required additional income-tax in lieu of penalty are paid within the notice period and no appeal has been filed. The application must be made within one month of receipt of the order, and the Assessing Officer must grant waiver and immunity after the appeal period expires, unless proceedings have already been initiated under Chapter XXII. en-us Tue, 31 Mar 2026 15:50:50 +0530 Tue, 31 Mar 2026 15:50:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53874 Section 440 is amended to provide for waiver of penalty and immunity from prosecution. An assessee may apply to the Assessing Officer if the tax, interest, and any required additional income-tax in lieu of penalty are paid within the notice period and no appeal has been filed. The application must be made within one month of receipt of the order, and the Assessing Officer must grant waiver and immunity after the appeal period expires, unless proceedings have already been initiated under Chapter XXII. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:50:50 +0530 https://www.taxtmi.com/acts?id=53874