# The Finance Act, 2016, Section 205: Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/205/

## 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.

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