Application was filed before the Settlement. In the course of hearing\u00a0<\/p>\n
with the permission of the Settlement Commission, declared additional income o over and above what was already declared in the application for settlement. The Settlement Commission\u00a0<\/em> accepted the declaration of additional income and permitted the assessee to make payment of the tax on such income in instalments. On writ filed by revenue, the High Court concluded that the Settlement Commission had not passed a just and proper order; that this was not a case which was acceptable for settlement at all and, therefore, set aside the order of the Settlement Commission.<\/p>\n On appeal to the Supreme Court\u00a0 held that in view of the remand being made to the said Interim Board, the subsequent re-assessment and demand made by the Department to the assessee shall be kept in abeyance and subject to the order to be made by the Interim Board for settlement. The concerned Interim Board shall issue notice to the assessee\/appellant, preferably within a period of four weeks, to appear before it and dispose of the application filed by the assessee seeking settlement, in accordance with law and after giving an opportunity to both sides.\u00a0 (AY. 2011-12 to 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":" S. 245D : Settlement Commission-Application-Additional income disclosed-Settlement Commission accepted the additional income-High Court set aside the order-On appeal the matter was remanded back to Settlement Commission (now Interim Board) for reconsideration and re-determination of undisclosed income, after giving an opportunity to both sides. [S. 133A, 2245C, 245D(4), Art. 136]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38736","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-a4M","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38736"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38736\/revisions"}],"predecessor-version":[{"id":38737,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38736\/revisions\/38737"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}