Settlement of tax cases requires full disclosure and prepayment of tax and interest before filing an application. An assessee may apply to the Settlement Commission in prescribed form to settle a case by fully disclosing previously undisclosed income or wealth, explaining its derivation, stating additional tax or wealth-tax payable with proof of payment, and furnishing prescribed particulars. Eligibility requires prior filing of required returns, payment of the additional tax and interest before application, and meeting prescribed additional-tax thresholds; applications must include prescribed fees, cannot be withdrawn, and the Assessing Officer must be notified of the application in the prescribed manner.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Settlement of tax cases requires full disclosure and prepayment of tax and interest before filing an application.
An assessee may apply to the Settlement Commission in prescribed form to settle a case by fully disclosing previously undisclosed income or wealth, explaining its derivation, stating additional tax or wealth-tax payable with proof of payment, and furnishing prescribed particulars. Eligibility requires prior filing of required returns, payment of the additional tax and interest before application, and meeting prescribed additional-tax thresholds; applications must include prescribed fees, cannot be withdrawn, and the Assessing Officer must be notified of the application in the prescribed manner.
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