Insertion of new section 273AA.
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....mmunity from penalty, if— (a) he has made an application for settlement under section 245C and the proceedings for settlement have abated under section 245HA; and (b) the penalty proceedings have been initiated under this Act. (2) The application to the Commissioner under sub-section (1) shall not be made after the imposition of penalty after abatement. ....


TaxTMI
TaxTMI