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of <h1>SC dismisses special leave petition as infructuous, leaving key legal question unanswered.</h1> <h3>PR COMMISSIONER OF INCOME TAX (CENTRAL) & ORS. Versus M/s AKSHAR CORPORATION</h3> The SC dismissed the special leave petition as it had become infructuous, leaving the question of law unresolved. - PR COMMISSIONER OF INCOME TAX ... Settlement Commission applications u/s 245(D)(1) - whether or not the disclosure was full and true? - Pr. CIT submitted a report u/s 245D(2B) nowhere directly or indirectly indicated that the income disclosed by the petitioner is not full and true - Settlement Commission permited the CIT (DR) to raise objections to the admission of the application and more so in permitting him to go beyond the report - decision making process of the Settlement Commission - permitting the Principal Commissioner to supplement the report submitted by the Commissioner by way of oral submissions - permission to raise objection to the admission of the application and be heard before the assessee and too, to supplement an incomplete report on the basis of the material and evidences on record - preliminary report based on prima-facie findings recorded by the Principal Commissioner or Commissioner - HELD THAT:- As stated that this petition has become infructuous, accordingly, the instant special leave petition is dismissed on having become infructuous. However, the question of law is left open. The Supreme Court dismissed the special leave petition as it had become infructuous. The question of law remains open.
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