Revocation of order of settlement

(1) Notwithstanding anything contained in sub-section (2) of Section 13 and Section 19, where it appears to the designated committee that, the Applicant has obtained the benefit of settlement under this Act, by suppressing any material information or particulars or by furnishing any incorrect or false information, concealment of any particulars related to any proceeding under the Relevant Acts, then the designated committee may, for reasons to be recorded in writing and after giving the Applicant, opportunity of being heard, within 1 year from the date of order of the settlement, revoke the said order of settlement issued under this Act. (2) If an order of settlement is revoked under sub-section (1), the assessment, revision, appeal or any other proceeding, as the case may be, under the Relevant Acts, covered by such order of settlement, shall, notwithstanding anything contained in sub-section (2) of Section 13 and 19, stand revived or reinstated immediately upon such revocation, and such assessment, revision, appeal or any other proceeding, as the case may be, shall be continued and decided in accordance with the provisions of the Relevant Acts, as if no order of settlement of the arrears of tax and/ or interest and/ or penalty has ever been made, and notwithstanding the period of limitation provided under the Relevant Acts, discharge the cases of such assessment, revision or appeal, as the case may be, shall be made by the respective authorities within 1 year from the date of passing the order of such revocation.