Dismissing the petition of Revenue the Court held that that the Settlement Commission empowered to examine and adjudicate all aspects arising from application and accord full and complete closure to all disputes and is  entitled to exercise all powers that are otherwise vested in Income-Tax Authority. Court also held that   explaining transaction and surrendering disputed receipt, cannot be treated as non-disclosure in application . The Settlement commissioner has rightly accepted the voluntary surrender  by the petitioner. Court also observed that the procedure adopted by Settlement Commission neither incorrect nor erroneous. (AY.1995-96 to 25-5-2000)