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of <h1>Commission must notify and hear settlement applications within set timelines, decide within 14 days or deem them allowed</h1> On receipt of a settlement application, the Commission must issue a notice within seven days, hear the applicant and within fourteen days either reject or allow the application to proceed (failing which it is deemed allowed); a copy is sent to the Principal Commissioner/Commissioner. The Commission may call for reports, declare applications invalid after hearing, direct further inquiry, and, after hearing parties, pass a settlement order specifying tax, penalty or interest, payment terms, and voidability for fraud or misrepresentation. Interest applies on unpaid amounts; orders may be rectified for apparent mistakes within specified periods. Certain timelines and procedures are modified for pending matters handled by an Interim Board and the Government may notify scheme-related adaptations.
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