Immunity from imposition of penalty, etc

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.... following conditions:-- (a) the tax and interest payable as per the order of assessment under section 270(10) or reassessment under section 279, has been paid within the period specified in the notice of demand; (b) where penalty has been levied under the circumstances referred to in section 439(11)(a) to (f), additional income-tax amounting to 100% of the amount of tax payable ....

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....rescribed. (3) The Assessing Officer shall, on fulfilment of the conditions as specified in sub-section (1), and after the expiry of the period of filing appeal as specified in section 358(3)(a), grant waiver of penalty under section 439 and immunity from initiation of proceedings under section 478 or 479. (4) No waiver or immunity under sub-section (3) shall be granted if any proceeding has....

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....was read as,  "Immunity from imposition of penalty, etc." 2.  Substituted vide Section 99 of the Finance Act, 2026 w.e.f. 01-04-2026 before it was read as,  "(1) An assessee may make an application to the Assessing Officer for granting immunity from penalty under section 439 and initiation of proceedings under section 478 or section 479, if-- ....