Allowing the petition the Court held that since some parts of the order were non-speaking, there was violation of the principles of natural justice. The writ petition was maintainable. The Settlement Commission had overlooked the evidence produced before it.  The Settlement Commission was directed to consider the issue of tax liability of SWCL at different stages commencing from the initial renunciation of rights to the ultimate transfer of shares by SWFSL in RRITCPL to MBL. The Settlement Commission had to also consider the tax liability of the assessee with regard to purchases of gift items from A, commission sales promotion through S, and payments made to T, in accordance with law.