Real estate dealer must comply with tax payment deadlines as court upholds Settlement Commission decision. The High Court upheld the decision of the Income Tax Settlement Commission in a case where a real estate dealer failed to comply with payment deadlines ...
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Real estate dealer must comply with tax payment deadlines as court upholds Settlement Commission decision.
The High Court upheld the decision of the Income Tax Settlement Commission in a case where a real estate dealer failed to comply with payment deadlines despite extensions and concessions. The court noted previous opportunities given to the petitioner and upheld the Settlement Commission's directive for payment by specific dates. The petitioner's writ petition seeking quashing/modification of the order for extension of time for tax deposit was dismissed.
Issues: Petitioner seeks quashing/modifying order for extension of time for tax deposit.
Analysis: The petitioner, a real estate dealer, surrendered income during an Income Tax Act search. Various notices and proceedings followed, leading to a settlement before the Income Tax Settlement Commission. Despite extensions and concessions, the petitioner failed to meet payment deadlines. The Settlement Commission directed payment by specific dates, which the petitioner did not comply with, leading to the present writ petition. The court noted the previous opportunities given to the petitioner, including the realization of some amount from jewellery sale. The court upheld the Settlement Commission's decision, finding no error warranting intervention. The petition was dismissed.
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