Home Highlights February 2014 Year 2014 This

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1. Validity of reopening of assessment - An order u/s 245D(4) already been passed by the Income Tax Settlement Commission (ITSC) - Scope of harmonious construction - The...

2. Application for settlement of cases - High Court has observed that, the assessment order for A.Ys. 2013-14 to 2019-20 could not have been passed as the application filed...

3. Validity of order of Settlement Commission - acceptance of additional income disclosed by the assessee - Petitioner/Income Tax authority could not make out any...

4. Eligibility to file settlement application - benefit of extension of time to file application for settlement - Admittedly, in this case, application for settlement under...

5. Revision u/s 263 - Validity of order passed by the AO as per the direction of the Settlement Commission u/s.254D(4) - The order passed by the ld. AO u/s.143(3) r.w.s....

6. The conferment, on the Settlement Commission, of the “powers of a Customs officer”, or the “powers of the Central Excise Officer” would not, ipso facto, result in the...

7. Power of settlement commission - Settlement Commission is within its powers to impose penalty on each of the Directors in addition to the imposition of penalty upon the...

8. Application filed before the Settlement Commission - Settlement Commission passed the impugned order though there was no true and full disclosure by the assessee in the...

9. Challenge against the order passed by the Settlement Commission - reason behind the creation of Settlement Commission is to give a quietus to the dispute between the two...

10. Validity of order passed by Settlement Commission - Unless the twin conditions mentioned therein are fulfilled, the Settlement Commission cannot move further in the...

11. Validity of the application filed u/s 245(C) - Settlement Commission - the prime consideration and pre-condition for entertaining an application is true and full...

12. Settlement of case - before submitting reply to the show cause notice, approached the Settlement Commission - The dismissal of the application filed before the...

13. Duty of AO to Guide the Assessee - Considering the specific facts on record that the assessee is non resident the amount which the ld. AO has taxed is earned and sourced...

14. Validity of Settlement Commission orders - The case involved petitions seeking directives for the issuance of formal orders under section 245D (4) of the Income Tax Act,...

15. Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...