79. Immunity from prosecution, penalty and interest in certain cases.-

Notwithstanding anything contained in the Act, the Government may, if it is of the opinion, for reasons to be recorded in writing that it is necessary or expedient so to do in public interest by notification in the Government Gazette grant immunity from prosecution or penalty for any offence under the Act or reduce or remit interest on arrears of tax admitted by the dealer or assessed by concerned authorities subject to such conditions as it may impose.