Section 291 of ITA, 1961 : Section 291: Power To Tender Immunity From Prosecution

Explanation using Example

Imagine a business owner, Mr. Kumar, who has not reported all of his income on his tax returns, thereby evading a significant amount of tax. The Income Tax Department begins an investigation into his finances. During the investigation, Mr. Kumar realizes the seriousness of the charges he may face, including prosecution and heavy penalties.

Mr. Kumar approaches the tax authorities and offers to provide detailed information about a network of individuals involved in a tax evasion scheme, which he was also a part of. Seeing an opportunity to uncover a larger tax evasion racket, the Central Government considers granting Mr. Kumar immunity from prosecution and penalty under the Income Ta...

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