{"id":77,"date":"2008-07-30T09:32:11","date_gmt":"2008-07-30T09:32:11","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=77"},"modified":"2008-07-30T09:32:11","modified_gmt":"2008-07-30T09:32:11","slug":"in-re-rescuwear-corporation-settlement-commission-full-bench","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/in-re-rescuwear-corporation-settlement-commission-full-bench\/","title":{"rendered":"In Re Rescuwear Corporation (Settlement Commission Full Bench)"},"content":{"rendered":"<p><a href=\"http:\/\/www.itatonline.org\/dlmonitor\/download.php?t=f&#038;i=34\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.itatonline.org\/images\/download.gif?w=605\" class=\"alignright\" border=\"0\" \/><\/a><\/p>\n<p>U\/s 245A(b), as amended by the Finance Act 2007 w.e.f. 1.6.2007, \u201cpendency of proceedings for assessment\u201d before the AO for one or more assessment years is a necessary condition for invoking the jurisdiction of the Settlement Commission. Held in that context by Five Member Bench of the ITSC that:<\/p>\n<p>(a)\tFor the year for which returns have been filed but have neither been processed u\/s 143(1) of the Act nor notices have been issue u\/s. 143(2) of the Act, the proceeding for assessment can be said to be \u201cpending\u201d;<\/p>\n<p>(b)\tEven for the years for which returns have been processed u\/s 143(1) of the Act but now no time is left for issue of notices u\/s 143(2) of the Act, the proceeding for the assessment years can be said to be \u201cpending\u201d;<\/p>\n<p>(c)\tThe term \u201cdate of conclusion of proceeding\u201d under clause (iv) of 245A (b) means that the proceedings for assessment can be said to be pending before the AO in respect of those assessment years only for which the AO can still take action\/initiate the proceeding under the Act;<\/p>\n<p>(d)\tIf in a composite application for several years, proceeding for certain assessment year are pending but are not pending for other years, the application can be admitted for those years for which proceedings are pending and held as \u201cinvalid\u201d for other years. The whole application cannot be treated as \u2018invalid\u2019.<\/p>\n<p><!--\n\n\n\n\n\n\/\/--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U\/s 245A(b), as amended by the Finance Act 2007 w.e.f. 1.6.2007, \u201cpendency of proceedings for assessment\u201d before the AO for one or more assessment years is a necessary condition for invoking the jurisdiction of the Settlement Commission. Held in that context by Five Member Bench of the ITSC <\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/in-re-rescuwear-corporation-settlement-commission-full-bench\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,6],"tags":[],"class_list":["post-77","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-others"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/77","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=77"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/77\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=77"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=77"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=77"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}