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Commissioner of Income Tax (Central) –II Versus BDR Builders & Developers Ltd.

2016 (5) TMI 338 - DELHI HIGH COURT

Immunity from prosecution and penalty granted by Income Tax Settlement Commission (ITSC) - whether full and true disclosure was made by the assessee - Held that:- The Court is unable to find, after reading the entire order carefully, any satisfaction recorded by the ITSC of the fulfilment of the above mandatory conditions under Section 254H (1) of the Act. While, the ITSC had noted the cooperation extended by the Respondent to it in the hearing, it has failed to record satisfaction that the Resp .....

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fulfilment by the applicant of the aforementioned mandatory requirements. The very object and purpose of having an ITSC which is vested with such powers will be defeated if a lenient view is taken of the fulfilment of the requirements in Section 245H (1) of the Act. - In the circumstances, without commenting on the merits of the submissions of either of the Department or the Respondent with regard to the disclosure already made before the SC and the report filed before it, the Court sets as .....

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ITSC ) whereby the Respondent, BDR Builders & Developers Ltd., was granted immunity from prosecution and penalty. 2. The principal facts in the present petition are that the search and seizure operation was carried out by the Investigation Wing of the Department on 11th October, 2006 in the business premises of the BDR group of companies including those of the Respondent and the residences of its Directors. Inter alia, cash of ₹ 92,72,250/- and various documents were seized. 3. On 24th .....

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t dated 8th January, 2013 was submitted to it by the Commissioner of Income Tax, Central-II (CIT, Central-II) in which a thorough analysis was done of the disclosure made by the Respondents. It urged that the Respondent Assessee has not made a true and full disclosure and, therefore, is not entitled to any immunity . Thereafter the impugned order was passed by the ITSC. 5. The Court has heard the submissions of Mr. Rahul Chaudhary, learned Senior Standing counsel appearing for the Department and .....

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ely essential that the ITSC record its satisfaction regarding compliance by the applicant before it on the above mandatory requirements. It is only then the SC can proceed and pass an order granting immunity to the applicant from prosecution. 7. When the impugned order of the ITSC is examined, it is seen that the reason for granting the Respondent immunity from prosecution and penalty has to be found in para 12, which reads as under: 12. The applicants have prayed for immunity from prosecution a .....

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Court, even on the reading of the entire order, finds that there has been no conscious application of mind to the mandatory requirement of Section 245H (1) of the Act by the ITSC. In other words, the Court is unable to find, after reading the entire order carefully, any satisfaction recorded by the ITSC of the fulfilment of the above mandatory conditions under Section 254H (1) of the Act. While, the ITSC had noted the cooperation extended by the Respondent to it in the hearing, it has failed to .....

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