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2015 (5) TMI 684 - BOMBAY HIGH COURT

2015 (5) TMI 684 - BOMBAY HIGH COURT - TMI - Settlement application under Section 245C(1) - rejection was sought by revenue of application on the ground that no additional income has been declared in the application, so far as assessment year 2011-12 is concerned no proceedings were pending before the Assessing Officer on the date of the application and that there has been failure on the part of the applicant to make a full and true disclosure in its application, etc. - Held that:- No reasons ar .....

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ould render the provisions redundant. Mere recording of submissions without considering why the submissions are acceptable or not, would clearly exhibit nonapplication of mind.

Assessee very fairly submits that he has no objection if the impugned order is set aside and the issue is restored to the Settlement Commission for fresh disposal at the stage of 245D(2C) of the Act. Revenue, on instructions, accepts the position and states that no further proceedings would be taken in respect .....

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with principles of natural justice. - Writ Petition No. 605 of 2014 - Dated:- 7-5-2015 - F. M. Reis And M. S. Sanklecha,JJ. For the Appellant : Ms Asha Desai, Adv. For the Respondent : Mr V P Thali, Adv. JUDGMENT (Per M. S. Sanklecha,J. ) Rule. Rule made returnable forthwith. Mr. V.P. Thali, learned Counsel waives service on behalf of the respondent. At the request of the Counsel, the petition is taken up for final disposal. 2. This petition challenges the order dated 19/05/2014, passed under S .....

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the Act. On 3/04/2014, the Settlement Commission by order passed under Section 245D(1) of the Act admitted the settlement application. Thereafter, in terms of Section 245D(2B) of the Act, the petitioner-Revenue furnished a report on 29/04/2014 praying that the settlement application as filed by the respondent be rejected as invalid. This was inter alia on the grounds of jurisdiction including the failure to disclose truly and fully all facts before the Settlement Commission. In particular, reje .....

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pplication filed by the respondent has not been considered. The impugned order dated 19/05/2014 has allowed the application to be proceeded with under Section 245 D(2C) of the Act without even a semblance of discussion/reasoning as to why the objections of the petitioner are not sustainable. 5. We find that the petitioner has raised various objections to the entertainment of the settlement application filed by the respondent such as no proceedings were pending, income disclosed to the Revenue be .....

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f the Act on the following finding : We have considered in the above case the report filed by the CIT under the provisions of section 245D(2B). We have also considered the arguments put forward during the hearing by Shri Rejeshwar Yadav who appeared on behalf of the department before us. Shri Yadav's arguments were mainly concentrated on the ground that true and full disclosure has not been made. After considering the report the argument of Shri Yadav and the detailed argument put forward by .....

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arguments put forward by Shri Phadke before us. Shri Phadke has fully and squarely deat with all issues raised by the CIT in the report u/s. 245D(2B) in the rejoinder as well as note on recognition of profits and related accounting policies filed at the time of hearing. We are therefore satisfied that true and full disclosure of income has been made by the applicant in the application before us and there exist no infirmity in the application. As such the application is held not to be invalid and .....

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the entire exercise under Section 245D(2C) of the Act would render the provisions redundant. Mere recording of submissions without considering why the submissions are acceptable or not, would clearly exhibit nonapplication of mind. 7. Mr. V.P. Thali, learned Counsel appearing for the respondentassessee very fairly submits that he has no objection if the impugned order is set aside and the issue is restored to the Settlement Commission for fresh disposal at the stage of 245D(2C) of the Act. Howev .....

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