(1) Notwithstanding anything contained to the contrary elsewhere in this Act, where any person or dealer (hereinafter referred to as the declarant in this section), makes a declaration to the Commissioner, on or before the 30th day of September, 2003, in respect of any turnover of sales or purchases of goods relating to any return period-

(a) for which he has failed to submit a return under section 30, or

(b) which he has failed to disclose in any return submitted under section 30, or

(c) which has escaped assessment by reason of omission or failure on the part of the declarant to submit a return under section 30 or to disclose fully and truly all material facts and particulars relating to such turnover of sales or purchases or otherwise,

such turnover of sales or purchases or particulars of such turnover of sales or purchases shall not be taken into account for the purposes of imposition of penalty under section 76 or prosecution under section 88.

Explanation- For the removal of doubts, it is explained that the declaration under this section may be made, where the books of accounts, registers or documents, including computerized or electronic accounts maintained on any computer or electronic media, of the declarant have been seized or any allegation of evasion of tax by the declarant is being investigated into under this Act.

(2) The declaration referred to in sub-section (1) shall be made in such from and in scuh manner as may be prescribed and before making the declaration, the declarant shall pay-

(a) the tax payable according to the declaration, and

(b) a composition fee at the rate of five per centum of the tax referred to in clause (a), in lieu of interest payable under section 31 or penalty leviable under section 76.

(3) A copy of the declaration made under sub-section (1), along with the enclosures thereto, shall be, submitted by the declarant to the appropriate assessing authority within seven days from making of the application under that sub-section, and the information contained therein shall be taken into account by the authorities under this Act for the purposes of assessment under section 45 or section 46, or reopening under sub-section (2) or sub-section (4) of section 46A of the assessment deemed to have been made under sub-section (1) of section 45 or appeal under section 79 or revision under section 80, section 81 or section 82, or review under section 83.

(4) Where the Commissioner is satisfied about the correctness of the declaration made under this section, he shall grant, in the prescribed manner, a certificate to the declarant setting forth therein the particulars of turnover of sales or purchases, the period to which such particulars relate and the amount of tax and composition fee paid according to the declaration.

(5) The immunity provided under sub-section (1) shall not be available to the declarant if-

(a) the certificate referred to in sub-section (1) has not been issued to the declarant; or

(b) the certificate referred to in sub-section (4) is obtained by suppressing any material information or particulars or by furnishing any incorrect or false information or particulars; or

(c) it is found that the particulars of turnover of sales or purchases furnished in the declaration are not correct or complete; or

(d) the penalty has already been imposed under section 76, or sanction has already been accorded for prosecution under section 88, in respect of the turnover of sales or purchases.

(6) All particulars contained in a declaration referred to in sub-section (1) shall be treated as confidential in the public interest and no court or authority shall be entitled to require any Government servant to produce before it such particulars or any part thereof, or to give evidence before it in respect thereof:

Provided that nothing in this sub-section shall apply to disclosure of any of the particulars contained in the particulars contained in the declaration for any of the purposes as referred to in any of the clauses of sub-section (3) of section 93.

(7) The declarant shall not be entitled to apply for reopening of any assessment or re-assessment made, or to claim any set off or relief in any appeal, revision, review or other proceeding in relation to any assessment or re-assessment, in view of the making of the declaration under this section.

(8) Any declaration made under sub-section (1) shall not be recalled, withdrawn or materially changed after submission before the Commissioner and the amount of tax and composition fee paid while making the declaration under sub-section (1), shall not be refundable under any circumstances.