152P. Effect of agreement.-

152P.  Effect  of  agreement.- 

(1)  Notwithstanding  anything  contained  in  any provision of this Ordinance, where an agreement is reached, under sub-section (9) of section 152O, it shall be binding on both the parties and it cannot be challenged in  any  authority,  Tribunal  or  court either  by  the  assessee  or  any other income tax authority.

(2) Every agreement, concluded under section 152O shall be conclusive as to the matters stated therein and no matter covered by such agreement shall, save as otherwise provided in this Ordinance, be reopened in any proceeding under this Ordinance.


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