2017 (3) TMI 903

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.... the Assessment Years 2011-12 to 2014-15. 3. The impugned order settled the petitioner's application to the extent it related to the Assessment Year 2014-15 at Rs. 32.72 lakhs as offered by the petitioner. However, the impugned order rejects the petitioner's application for settlement to the extent it related to Assessment Year 2011-12 to 2013-14 on the ground that the petitioner had not declared additional income for those assessment years in its settlement application. The above basis of the impugned order of the three member bench of Commission was contrary to the decision of a five member Special Bench of the Commission in Airtech Pvt. Ltd. 209 ITR 21. This different view was on the ground that the five member Special Bench of ....

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....r Special Bench of the Commission : " Whether in an application for settlement u/s 245C(1) covering more than one assessment year, the applicant must mandatorily disclose additional income not disclosed before the Assessing Officer, for each assessment year covered by the application and on such additional income there must be a liability to pay income tax for each such year especially in view of amendments brought about in proviso to section 245C(1), read with section 245A(b) by Finance Acts, 2007 and 2010, thereby rendering decision of Special Bench in Airtech Pvt. Ltd. 209 ITR ITR 21, no longer good law ?" 5. By an order dated 2nd December, 2016, the seven member bench of the Tribunal in the case of Neptune Developers & Constructions....