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<h1>Supreme Court upholds tax evasion assessment settlement, dismisses challenge, orders petitioner to pay costs.</h1> The Supreme Court dismissed the petitioner's challenge to the tax evasion assessment settlement, upholding the agreement and directing the petitioner to ... Appellate Assistant Commissioner, Penal Interest The petitioner was assessed for tax evasion, resulting in a liability of Rs. 1,96,175. A settlement was reached with the government for payment in instalments, but the petitioner challenged the legality of the process. The Supreme Court dismissed the petition, upholding the settlement and ordering the petitioner to pay costs. (Case citation: 1954 (10) TMI 7 - Supreme Court)
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