Bar on prosecution and on inadmissibility of evidence in certain
circumstances.
35K. (1) A person shall not be proceeded against
for an offence under section 35A or section 35D in relation to the assessment
for 82[an assessment year] in respect of which the penalty imposed or
imposable on him under clause (iii) of sub-section (1) of section 18 has
been reduced or waived by an order under section 18B.
(2) Where any proceeding for prosecution has been taken against any
person under this Act, any statement made or account or other document produced
by such person before 83[any wealth-tax authority (not being an Inspector of Income-tax)] shall
not be inadmissible as evidence for the purpose of such proceedings merely on
the ground that such statement was made or such account or other document was
produced in the belief that the penalty imposable would be reduced or waived
under section 18B or that the offence
in respect of which such proceeding was taken would be compounded.