DRC Power to reduce or waive penalty or immunity from prosecution or both [ Section 245MA(2) ]

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....ion Committee, subject to such conditions, as may be prescribed, shall have the following powers in case of a person whose dispute is resolved under this Chapter. • to reduce or waive any penalty imposed or imposable under this Act or • grant immunity from prosecution for any offence punishable under this Act in case of a person whose dispute is resolved under this Chapte....

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....n respect of the order which is the subject matter of resolution, if it satisfied that such person has, • Paid the tax due on the returned income in full if available; and • Co-operated with the DRC in the proceedings before it. (ii) Reasons to be recorded in writing - The DRC would grant such waiver of penalty or immunity from prosecution or both, subject to such cond....