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2016 (3) TMI 737 - BOMBAY HIGH COURT

2016 (3) TMI 737 - BOMBAY HIGH COURT - TMI - Application for settlement of cases - Held that:- There is no material to reject the application for settlement at the stage of 245 D(2C) of the Act. The view taken in the present case is on the basis of submissions made by the parties before it and such a view has not been shown to be perverse and/or arbitrary. It must be emphasised that the impugned order does not postpone the consideration of the issue of true and full disclosure to a future date. .....

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r of the Commission itself states that it is a primafacie view on consideration of facts and submissions made before it at Section 245D(2C) stage.

Delay on the part of the Petitioner is not being considered. However, we only wish to point out that if and when any party is aggrieved by the order of the Commission (particularly interim orders) and it is sought to be challenged, it must be done expeditiously, particularly, bearing in mind that the Commission is under an obligation to pas .....

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the Revenue challenges the order dated 27.4.2015 passed under Section 245D (2C) of the Income tax Act, 1961 (the Act) by the Income-tax Settlement Commission (Commission). 2. The grievance of the Petitioner is that the impugned order of the Commission under Section 245D(2C) of the Act has not rendered definite findings with regard to its contention that there has been failure on part of the Respondent Nos.2 to 22 to make a full and true disclosure of (undisclosed) income. In the circumstances, t .....

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he Act and restored the applications for settlement for fresh consideration by the Commission for deciding its validity on consideration of Revenue's objections. In the above circumstances, it is submitted that the Petition be allowed and the Applications be restored to the Commission at the stage of Section 245D(2C) of the Act to decide on its validity after considering the Revenue's objections. 4. As against the above, Dr. Shivram, the learned Senior Counsel appearing for the Responden .....

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ered the submissions made by the Revenue in holding that the Applications are valid as evident in paragraph 6 of the impugned order as under:- "Under the circumstances, we are of the considered opinion that in the absence of any adverse information available on record, it cannot be said at this stage that the applicants have not made true and full disclosure of their income in the settlement applications and hence, the applications filed by them cannot be said to be 'invalid'." .....

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that the Applications are valid by inter-alia observing in paragraph 11 as under: "11..........As regards the issue of true and full disclosure of income and the manner in which such income has been derived, we are of the opinion that the disclosure of additional income at this stage appears to be prima-facie full and true and at present, there is no material to reject the contention of the applicant company. This aspect would require detailed examination in the subsequent proceedings befor .....

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rom a challenge on the ground of bias, fraud and malice which fall in a separate class. The Court is concerned with the decision making process of the Commission and not so much with the correctness of the order as it would be in appeal. Unless of course, the order of the Commission on merits, is perverse. Keeping the above parameters in mind, we shall examine the Petitioner's challenge to the impugned order. 6. We find that the impugned order in this case has dealt with and considered the o .....

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and thus, ought to be rejected as invalid under Section 245D(2C) of the Act, as it had postponed the considerations of the issue of true and full disclosure made by the Applicant for consideration to a future date. It was in the above context that the Court held that the order of the Commission was nonspeaking order inasmuch as it did not consider or deal with the contention of the Revenue which it was obliged to do at the stage of passing an order under Section 245D(2C) of the Act. Thus, the d .....

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