Certain interests and penalties not levied

Section 297 — - CERTAIN INTERESTS AND PENALTIES NOT LEVIED

Section 297 is the substantive equivalent of 1961 s. 158BFA -- the provision dealing with certain interests and penalties not levied within the BLOCK ASSESSMENT framework triggered by search and seizure (s. 247). Section 247 search triggers block-period assessment under s. 294 (procedure) and ss. 192 (60% rate) / 195 / 295-301 cumulative framework.

STATUTORY ARCHITECTURE: Certain interests and penalties not levied is part of the block-assessment framework activated post-search. The provisions ss. 292-301 collectively govern: search-led undisclosed-income determination; block-period (typically 6 / 10 years preceding); 60% flat tax under s. 192; specific procedural / time-limit / penalty / interpretation rules. Practitioner: search-led tax cases are high-stakes; immediate engagement of senior counsel; appellate route direct to ITAT (skipping CIT(A)).

CROSS-REFERENCES

• Section 192 -- 60% block-period tax.
• Section 247 -- Search and seizure (trigger).
• Section 292-294 -- Block assessment computation.
• Section 271AAB / equivalent -- Search-related penalty.