§ 297
Chapter XVI — Procedure For Assessment
Certain interests and penalties not to be levied or imposed
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
297. Interest under section 423, 424 or 425 or penalty under section 439 shall
not be levied or imposed upon the assessee for the undisclosed income
assessed or reassessed for the block period.
Levy of interest and penalty in certain cases. [S. 158BFA of the 1961 Act]
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.