Settlement application single-fee covers multiple pending assessments; use regular assessment challan for payment; refunds as direct refunds. An assessee may file a Settlement application at any stage of assessment or wealth-tax proceedings; a single application may cover multiple assessment years and wealth-tax proceedings and requires only the single prescribed fee for a combined petition. Payment must be made using the regular assessment challan to ensure correct accounting classification; applicants should attach the challan copy to the petition and retain an attested copy. Refunds of excess fees are to be issued by the ITO on the Settlement Commission's certificate and classified as Direct Refunds.
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.
Settlement application single-fee covers multiple pending assessments; use regular assessment challan for payment; refunds as direct refunds.
An assessee may file a Settlement application at any stage of assessment or wealth-tax proceedings; a single application may cover multiple assessment years and wealth-tax proceedings and requires only the single prescribed fee for a combined petition. Payment must be made using the regular assessment challan to ensure correct accounting classification; applicants should attach the challan copy to the petition and retain an attested copy. Refunds of excess fees are to be issued by the ITO on the Settlement Commission's certificate and classified as Direct Refunds.
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