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SECTION:245A-SETTLEMENT COMMISSION-CASES” WHICH CAN BE REFERRED TO SETTLEMENT COMMISSION

Income Tax - SETTLEMENT OF CASES - 01 - CASES WHICH CAN BE REFERRED TO SETTLEMENT COMMISSION SECTION: 245A CASE means any proceedings for assessment or reassessment of any previous year which is pending before an Assessing Officer on the date on which an application is made to settlement Commission u/s 245C(1) In assessment proceedings under section 143(3)/144. Case becomes pending under section 143(3)/144 on the date on which notice under section 143(2)/ show cause notice under section 144 is i .....

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Assessment Years immediately preceding the Assessment Year relevant to the previous year in which search is conducted. These proceedings shall be deemed to have commenced on the date on which notice under section 153A is issued. In assessment proceedings under section 143(3)/ 144 of the Assessment Year relevant to the previous year in which search is conducted. These proceedings shall be deemed to have commenced on the first day of the Assessment Year. Any assessment year would entitle the asses .....

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ommence from the date of issue of notice under section 148 of the Act. Generally, it has been observed that the issue relating to escapement of income often involved is more than one assessment year. In such type of cases, the assessee becomes eligible to apply to settlement commission only for the assessment year for which notice u/s 148 has been issued. Therefore, to take the proceeding for all other assessment years where there is a escapement. The assessee becomes eligible only after notice .....

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such other assessment years should have been furnished under section 139 of the Act or in response to notice under section 142 of the Act. DEEMED DATE OF COMMENCEMENT OF PROCEEDINGS AND DEEMED DATE OF CONCLUSION OF PROCEEDINGS [Section- 245A] Amendments Clause (iv) of the Explanation has been amended to provide that a proceeding for any assessment year, other than the proceedings of assessment or reassessment referred to in clause (i) or clause (iii) or clause (iiia), shall be: Deemed to have co .....

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