Dismissing the petition the Court held that the immunity from penalty and prosecution was granted on condition of the assessee satisfying the Settlement Commission’s order which also prescribed a specific time frame for payment. The Settlement Commission’s order stated clearly that if the payments were not made in accordance with the directions therein automatically, the immunity would stand withdrawn.
Patliputra Builders Ltd. v ITSC (2024)466 ITR 72 (Pat)(HC)
S. 245D : Settlement Commission-Settlement of cases Granting Immunity from penalty or prosecution provided conditions imposed by it fulfilled-Non-fulfilment of conditions-Immunity cannot be claimed.[S. 142(2A), 245C, Art. 226]