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Principal Commissioner of Income Tax (Central) -4, Mumbai Versus Income Tax Settlement Commission (ITSC) And Others

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.

However, we clarify that the view .....

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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 pass an order within 18 months from the date of .....

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015 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, the impugned order of the Commission ought to .....

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lement 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 Respondents state that the Petition should not be ente .....

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olding 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'." Thus, it has dealt with the Revenue's ob .....

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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 before us and, therefore, is left open." In t .....

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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 objections of the Revenue and concluded that o .....

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der 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 decision making process was flawed, resulting .....

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