Settlement Commission cannot grant immunity from Interest Liability on or after 01.06.2007

Union of India Vs Pratibha Construction Engineers & Contractors (India) Pvt. Ltd. (Bombay High Court) Section 127H of the Act of 1962 confers power on the Settlement Commission to grant immunity from prosecution and penalty. Section 127H(1) as it read prior to 1 June 2007 empowered the Settlement Commission, upon satisfaction of the conditions laid down in the provisions, to grant immunity either wholly or in part from the imposition of any penalty, fine and interest. Thereafter section 127H(1) was amended by the Finance Act, 2007 brought into effect from 1 June 2007. By this amendment, th...