Maa Mahamaya Industries Ltd. v. ITSC (2023) 459 ITR 301 / 294 Taxman 424 (SC) Editorial : Maa Mahamaya Industries Ltd. v. ITSC (2023) 459 ITR 277 / 153 taxmann.com 295 (Telegana) (HC)

S. 245C : Settlement Commission-Settlement of cases-Failure to disclose full and true disclosure-Writ petition is dismissed-SLP is dismissed. [S. 245D(1), Art. 136]

High Court held that Settlement Commission is empowered to declare an application as invalid on ground of failure to make true and full disclosure, hence, where Settlement Commission, after perusing report of Principal Commissioner submitted under sub-section (2B) of section 245D had recorded reasons to come to conclusion that there was no true and full disclosure as required under section 245C(1). (AY.2006-07 to 2012-13)