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2019 (3) TMI 1576 - HC - Income TaxSettlement Commission u/s 245(D)(4) - Retrospective effect to its declaration that the Petitioner’s application for settlement in relation to certain assessment years - Whether the application for settlement can be rejected in relation to certain assessment years where no additional income is disclosed, though, in the composite application for settlement, assessee has disclosed adequate undisclosed income? - Can the settlement commission entertain such an objection while passing the order under section 245D(4)? - HELD THAT:- The issues arising the Petitions would require a detail consideration. Prima facie, when it is shown that earlier the judgment of Settlement Commission by five Judges Bench and (even after the certain legislative changes were made in the Act pertaining to settlement of the case), later on seven Judges Bench of the Settlement Commission has held that the splitting of a declaration assessment year wise for examining the requirement of the declaration of undisclosed income would not be permissible, the judgment of the Settlement Commission impugned in the present Petitions would have to be stayed. In the result, Rule. By way of interim relief, implementation of the judgment of Settlement Commission is stayed. The assessment orders passed by the Assessing Officer are by way of consequence to the judgment of the Settlement Commission. Such assessment orders are also therefore stayed.
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