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2015 (3) TMI 1109 - MADRAS HIGH COURTRejection of the settlement application - Best Judgment assessment - Sections 7(a) and 7(c) - Held that:- Petitioner company's properties is sought to be auctioned by tomorrow. Further, it is stated by the learned counsel appearing for the petitioner that the petitioner company is already in a financial crunch. According to the Petitioner Company, the interpretation given by the respondents in respect of the Sections 7 of the Act is wrong. Before even filing of Settlement, an applicant has to necessarily comply with the mandatory conditions laid down in the Scheme. There is no dispute in this regard. Now, the petitioner wants to take advantage of Section 7(a) alone whereas, the authorities, in the case on hand, have invoked 7(a) and 7(c) of the Act together. Therefore, he has come forward with these Writ Petitions for the relief stated earlier. On the date of entering into the settlement enquiry, there was proceedings pending before the Assistant Commissioner, Karur. Such argument cannot be accepted for the reason that there is a provision to the effect that which shall be deemed to have been withdrawn from the date of making of application under sub-section(1) of Section 5. - There is no infirmity or illegality in the orders impunged in these Writ Petitions - Decided against Assessee.
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