P. Udaya Shankar v. ITSC (2021) 281 Taxman 134 (Mad.) (HC )

S. 245D : Settlement Commission – Application -Retraction of statement – Order passed by the Settlement commission rejecting the application was affirmed [ S. 245C, 245D(4) , Art , 226 ]

Dismissing the petition the Court held that Settlement Commission had made  a categorically finding that there was no cogent reason given for retracting statements made on three different occasions except for a vague assertion that he was unaware of financial implications of statements made during course of search and immediately thereafter . Findings of Settlement Commission were unambiguous and there was no perversity or infirmity in respect of said findings. Order of Settlement Commission was affirmed .