Power of Settlement Commission to grant immunity from prosecution and penalty

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....ated with the Settlement Commission in the proceedings before it and has made a full and true disclosure of his duty liability, grant to such person, subject to such conditions as it may think fit to impose, immunity from prosecution for any offence under this Act ^2[and also either wholly or in part from the imposition of any penalty and fine] under this Act, with respect to the case covered....

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.... the Settlement Commission, if it is satisfied that such person had, in the course of the settlement proceedings, concealed any particulars, material to the settlement or had given false evidence, and thereupon such person may be tried for the offence with respect to which the immunity was granted or for any other offence of which he appears to have been guilty in connection with the settlement an....

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....rce and also either wholly or in part from the imposition of any penalty, fine and interest" 3.  Inserted vide Section 105 of the Finance Act, 2007 w.e.f. 01-06-2007 4.  Substituted vide Section 105 of the Finance Act, 2007 w.e.f. 01-06-2007 before it was read as, "sub-section (7) of section 127C within the time specified in such order or within s....