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2013 (10) TMI 217 - HC - Income TaxAllowability of case to be proceeded before Settlement Commission – Held that:- On receipt of an application under section 245C, the Settlement Commission shall call for a report from the Commissioner and on the basis of the materials contained in such report and having regard to the nature and circumstances of the case or the complexity of the investigation involved therein, shall, where it is possible, by order, reject the application or allow the application to be proceeded with within a period of one year from the end of the month in which such application was made under section 245C - In the present case, the impugned order permitted the respondent-assessee to clear the stage of sub-section (1) of section 245C of the Act. It merely amounted not to terminate the assessee's application for settlement - Settlement Commission shall decide the application of assessee for settlement on the basis of material on record.
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