{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"205","heading":"Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases","text":"Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases. 205. The designated authority shall, subject to the conditions provided in section 204, grant— (a) | immunity from instituting any proceedings in respect of an offence under the Income-tax Act or the Wealth-tax Act, as the case may be; or (b) | immunity from imposition or waiver, as the case may be, of penalty under the Income-tax Act or the Wealth-tax Act, as the case may be, in respect of,— (i) | specified tax covered in the declaration under section 202; or (ii) | tax arrear covered in the declaration to the extent the penalty exceeds the amount of penalty referred to in sub-clause (b) of clause (I) of section 202; (c) | waiver of interest under the Income-tax Act or the Wealth-tax Act, as the case may be, in respect of,— (i) | specified tax covered in the declaration under section 202; (ii) | tax arrear covered in the declaration to the extent the interest exceeds the amount of interest referred to in sub-clause (a) of clause (I) of section 202.","html":"<p><b> Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases. </b></p><p><b> 205.</b> The designated authority shall, subject to the conditions provided in section 204, grant—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>immunity from instituting any proceedings in respect of an offence under the Income-tax Act or the Wealth-tax Act, as the case may be; or</td></tr><tr><td>(<i>b</i>)</td><td></td><td>immunity from imposition or waiver, as the case may be, of penalty under the Income-tax Act or the Wealth-tax Act, as the case may be, in respect of,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>specified tax covered in the declaration under section 202; or</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>tax arrear covered in the declaration to the extent the penalty exceeds the amount of penalty referred to in sub-clause (<i>b</i>) of clause (<i>I</i>) of section 202;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>c</i>)</td><td></td><td>waiver of interest under the Income-tax Act or the Wealth-tax Act, as the case may be, in respect of,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>specified tax covered in the declaration under section 202;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>tax arrear covered in the declaration to the extent the interest exceeds the amount of interest referred to in sub-clause (<i>a</i>) of clause (<i>I</i>) of section 202.</td></tr></table></div>","words":188,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/205/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}