Section 297 — Certain interests and penalties not to be levied or imposed

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.

Related sections

Section 268 — Inquiry before assessment
Section 269 — Estimation of value of assets by Valuation Officer
Section 270 — Assessment
Section 271 — Best judgment assessment
Section 272 — Power of Joint Commissioner to issue directions in certain cases
Section 273 — Faceless Assessment
Section 274 — Reference to Principal Commissioner or Commissioner in certain cases
Section 275 — Reference to Dispute Resolution Panel
Section 276 — Method of accounting
Section 277 — Method of accounting in certain cases
Section 278 — Taxability of certain income
Section 279 — Income escaping assessment
Section 280 — Issue of notice where income has escaped assessment
Section 281 — Procedure before issuance of notice under section 280
Section 282 — Time limit for notices under sections 280 and 281
Section 283 — Provision for cases where assessment is in pursuance of an order on appeal, etc
Section 284 — Sanction for issue of notice
Section 285 — Other provisions
Section 286 — Time limit for completion of assessment, reassessment and recomputation
Section 287 — Rectification of mistake
Section 288 — Other amendments
Section 289 — Notice of demand
Section 290 — Modification and revision of notice in certain cases
Section 291 — Intimation of loss
Section 292 — Assessment of total undisclosed income as a result of search
Section 293 — Computation of total undisclosed income of block period
Section 294 — Procedure for block assessment
Section 295 — Undisclosed income of any other person
Section 296 — Time-limit for completion of block assessment
Section 298 — Levy of interest and penalty in certain cases. [S. 158BFA of the 1961 Act]
Section 299 — Authority competent to make assessment of block period
Section 300 — Application of other provisions of Act
Section 301 — Interpretation