Abatement of proceedings before the Settlement Commission triggers reassessment by the Assessing Officer and exclusion of specified time periods. Sections 245HA and 245HAA provide that where a section 245C application is rejected, declared invalid, not allowed to proceed, or not disposed within prescribed time, proceedings before the Settlement Commission abate on specified dates and the Assessing Officer or other income-tax authority shall thereafter dispose of the case as if no section 245C application had been made. Material and evidence produced before the Commission may be used by the Assessing Officer. The period from application to specified date is excluded for relevant statutory time-limits, and the Assessing Officer must allow credit for tax and interest paid on or before application or during pendency.
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.
Abatement of proceedings before the Settlement Commission triggers reassessment by the Assessing Officer and exclusion of specified time periods.
Sections 245HA and 245HAA provide that where a section 245C application is rejected, declared invalid, not allowed to proceed, or not disposed within prescribed time, proceedings before the Settlement Commission abate on specified dates and the Assessing Officer or other income-tax authority shall thereafter dispose of the case as if no section 245C application had been made. Material and evidence produced before the Commission may be used by the Assessing Officer. The period from application to specified date is excluded for relevant statutory time-limits, and the Assessing Officer must allow credit for tax and interest paid on or before application or during pendency.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
