Allowing the petition of the revenue the Court held that the Principal Commissioner was able to establish that the assessee had not approached the Settlement Commission with true and full disclosure of its income and during the course of the proceedings had offered additional income. The findings of the Settlement Commission would also confirm that and such offer of additional income was sufficient for the purpose of arriving a conclusion that the assessee had filed the application without disclosing its true and full income. The Settlement Commission ought to have rejected the application at the stage when it had found that the assessee did not disclose the true and full facts which was not done. The order passed under section 245D(4) by the Settlement Commission was quashed. (AY. 2007-08 to 2012-13)