Settlement Commission must act on section 245C applications within strict timelines or face deemed approval
Upon receipt of an application under section 245C, the Settlement Commission must issue a notice within seven days requiring the applicant to justify proceeding with the application and decide within fourteen days to allow or reject it; failure to act results in deemed allowance. Copies of orders are sent to the applicant and relevant tax authorities. The Commission may call for reports, conduct further inquiries, and after hearing parties, pass a settlement order detailing terms including tax, penalty, or interest payable. Orders can be amended within six months to rectify mistakes, subject to notice and hearing if liability changes. Non-payment of tax within 35 days attracts interest. Settlements obtained by fraud are void, reviving proceedings. Provisions apply to pending cases with modifications for the Interim Board. The Central Government may notify schemes for efficiency and may modify Act provisions accordingly, with parliamentary oversight.
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