TMI BlogProvisions of Chapter XIX-A of the Income-tax Act/Chapter V-A of the Wealth Tax Act.X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of Chapter XIX-A of the Income-tax Act/Chapter V-A of the Wealth Tax Act which are of general interest are as follows:- (i) Whether having regard to the provisions of sub-sections (4) and (6) of Section 245D/22D, a stipulation regarding the securities that assessee should furnish for payment of its dues as determined by the Settlement Commission can be incorporated in the order passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Settlement Commission's order under Section 245-D (4)/22D(4) determining the assessee's income/wealth and the taxes payable thereon, it is incumbent on the part of the ITO/WTO to issue a formal notice of demand under Section 156/30 ? The answer is in the affirmative. A notice of demand under Section 156/30 has to be issued by the I.T.O./WTO as Section 220/31 of the Act (which lays down when ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... covery proceedings. (iii) Whether having regard to the definition of the term "case"., an application under Section 245C/22C can be made covering pending assessment proceedings for more than one assessment year and whether under the Second proviso to Section 245D(1)/22D(1) it is open to the Commissioner to object to the application being proceeded with for all or some of the assessment years dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other assessment years are concerned, the proceedings of which is not objected to by the Commissioner. (iv) Whether having regard to the provisions of Section 138 of the Income-tax Act, 1961/Section 42B of the Wealth Tax Act, 1957 information regarding proceedings before the Settlement Commission in individual cases and the orders passed by the Commission in respect thereof can be disclosed ? ..... X X X X Extracts X X X X X X X X Extracts X X X X
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