Rejection of application for settlement of the Case - full and ...

Settlement Application Denied: Incomplete Income Disclosure Violates Section 245(C) of Income Tax Act.

January 18, 2020

Case Laws Income Tax HC

Rejection of application for settlement of the Case - full and true disclosure of the income - the manner in which such income has been derived - Section 245(C) of the Act is meant for those assessees who seek to disclose income not disclosed before the officer including ‘the manner in which such income has been derived’. If the department already knows and has gathered particulars of such income and the manner in which it has been derived, there is no ‘disclosure’ by the assessee.

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Rejection of application for settlement of the Case - full and ...

Settlement Application Denied: Incomplete Income Disclosure Violates Section 245(C) of Income Tax Act.

January 18, 2020

Case Laws Income Tax HC

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