Stay period before Settlement Commission not counted towards 18-month limit under Section 245D(4A) of Income Tax Act

The Bombay HC clarified that the stay period on proceedings before the Settlement Commission is excluded from the 18-month time limit under Section 245D(4A) of the Income Tax Act, 1961. Petitioner's counsel did not object to this clarification.

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The Bombay High Court clarified that the period of stay on proceedings before the Settlement Commission should be excluded from the time limit of 18 months under Section 245D(4A) of the Income Tax Act, 1961. The petitioner's counsel had no objection to this clarification.

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