TMI Blog2015 (5) TMI 684X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI 630 - BOMBAY HIGH COURT ] has held that an application under Section 245D(2C) of the Act has to be disposed of after considering the objections raised by the Revenue supported by some modicum of reasons. In the absence of some consideration of the objections, 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. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e filed a settlement application for assessment years 2011-12 to 2013-14 under Section 245C(1) of 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, rejection was sought on the ground that no additional income has been declared in the application, so far as assessment year 2011-12 is concerned no proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Shri Phadke on behalf of the applicant we are of the considered view that all the conditions specified in the Act regarding validity of the application have been complied with by the applicant. The technical requirements like pendency of proceedings, payment of tax beyond threshold limit and interest thereon, filing fees, intimation to the AO etc. are not disputed by the department. The ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the issue is restored to the Settlement Commission for fresh disposal at the stage of 245D(2C) of the Act. However, he points out that after the respondent filed their application before the Settlement Commission on 27/03/2014 for the Assessment year 2011-12 to 2013-14 and the same was allowed to be proceeded with under Section 245D(1) of the Act on 3/04/2014, the petitioner has issued notices dated 17/12/2014 and 29/04/2015 under Section 271D of the Act seeking to impose penalty upon the petitioner. It is correctly submitted by Mr. Thali, the learned Counsel of the respondent that in view of Section 245F(2) of the Act when an application under Section 245C of the Act has been allowed to be proceeded with under Section 245D(1) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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