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2017 (6) TMI 786 - HC - Income TaxValidity of order passed by the Settlement Commission u/s 245D - additional disclosure of income - Held that:- It is true that before the Settlement Commission, the assessees indicated that the additional disclosure of ₹ 50 lakhs each may be accounted for the assessment year 2014-15. However, we cannot lose sight of the fact that such disclosures were, as noted above, in the spirit of settlement and to put an end to the controversy. The assessees therefore cannot be pinned down to the effect of such disclosures in the year 2014-15 alone. We cannot fragment a larger picture and telescope the additional disclosures for a particular year and taking into account the comparable figures for that year decide whether such disclosures would shake the initial disclosures as to apply the ratio laid down by the Supreme Court in case of Ajmera Housing (2010 (8) TMI 35 - SUPREME COURT OF INDIA ) and to hold that the initial disclosures themselves were untrue projecting the additional disclosures for all years the assessees had sought settlement, we find the Commission committed no error in accepting them and in proceeding to pass final order on such settlement applications.
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