Definition of case for tax settlement narrowed, excluding reassessment, search-originated assessments, and fresh assessments after set-aside orders. Amendment substitutes the definition of case for settlement applications to mean proceedings for assessment pending before an Assessing Officer when a section 245C(1) application is made, while excluding reassessment/recomputation from notice under section 148, assessments arising from searches or requisitions, and fresh assessments following orders setting aside assessments; it sets deemed commencement dates for each excluded category and treats ordinary assessment proceedings as commencing from the first day of the assessment year and concluding on assessment. It also provides that the Settlement Commission includes a Member who is senior among Bench Members.
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Definition of case for tax settlement narrowed, excluding reassessment, search-originated assessments, and fresh assessments after set-aside orders.
Amendment substitutes the definition of case for settlement applications to mean proceedings for assessment pending before an Assessing Officer when a section 245C(1) application is made, while excluding reassessment/recomputation from notice under section 148, assessments arising from searches or requisitions, and fresh assessments following orders setting aside assessments; it sets deemed commencement dates for each excluded category and treats ordinary assessment proceedings as commencing from the first day of the assessment year and concluding on assessment. It also provides that the Settlement Commission includes a Member who is senior among Bench Members.
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