Power of Settlement Commission to grant immunity from prosecution and penalty

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....-operated with the Settlement Commission in the proceedings before it and has made a full and true disclosure of his income and the manner in which such income has been derived, grant to such person, subject to such conditions as it may think fit to impose, ^7[for the reasons to be recorded in writing] immunity from prosecution for any offence under this Act or under the Indian Penal Code (45 of 1....

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.... immunity granted to a person under sub-section (1) shall stand withdrawn if such person fails to pay any sum specified in the order of settlement passed under sub-section (4) of section 245D within the time specified in such order or within such further time as may be allowed by the Settlement Commission, or fails to comply with any other condition subject to which the immunity was granted and th....

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...., the power of the Settlement Commission under this section shall be exercised by the Interim Board and the provisions of this section shall mutatis mutandis apply to the Interim Board as they apply to the Settlement Commission.]     *************** NOTES:- 1. Inserted vide Section 57 of the Taxation Laws (Amendment) Act, 1975 w.e.f. 01-04-1976 2.....