Dismissing the petition the Court held that; it is inherent for every assessee invoking and filing an application for settlement to make full and true disclosure of undisclosed income and on this there is no lis or argument. On facts though the assessee  submitted that he was not beneficial owner of said two foreign accounts and property at London was owned by his brother-in-law, however, failed to produce any evidence in support of such submission. Further, documents, i.e., KYC details in account opening form filed with bank at Singapore, as part of banking procedures applicable, specifically and categorically mentioned that assessee was a beneficial owner . Accordingly Income tax settlement Commission rightly rejected settlement application filed by assessee as invalid.(AY. 2008-09 to 2014-15)