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of <h1>Finance Bill 2022 introduces sunset clause for Section 276AB prosecutions and clarifies Section 276B tax penalty references.</h1> The Finance Bill 2022 proposes amendments to align prosecution provisions under Chapter XXII of the Act with current applicability. Sections 269UC/UE/UL, made inapplicable since 2002, render section 276AB prosecutions for pre-2002 offenses obsolete. To conclude ongoing cases without interpretational issues, a sunset clause is proposed to prevent new prosecutions under section 276AB from April 1, 2022. Additionally, section 276B, concerning penalties for failure to pay tax, is amended to clarify its reference to section 194B, reflecting changes made in the Finance Act 1999, ensuring coherence between the sections.
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