https://www.taxtmi.com/caselaws?id=152093 The Special Bench concluded that a single application for settlement under section 245C(1) of the Income-tax Act, 1961 can cover multiple assessment years. The application must disclose income not previously revealed to the Assessing Officer, and the additional tax payable on the disclosed income should exceed Rs. 50,000 for the application as a whole. There is no requirement for disclosure of additional income for each assessment year included in the petition. The cases of Airteck Pvt. Ltd., Hari Chand, and Messrs. Damani Bros. were remanded to their respective benches for further proceedings under section 245D(1). en-us Wed, 15 Jun 1994 00:00:00 +0530 Mon, 24 Jun 2013 15:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152093 The Special Bench concluded that a single application for settlement under section 245C(1) of the Income-tax Act, 1961 can cover multiple assessment years. The application must disclose income not previously revealed to the Assessing Officer, and the additional tax payable on the disclosed income should exceed Rs. 50,000 for the application as a whole. There is no requirement for disclosure of additional income for each assessment year included in the petition. The cases of Airteck Pvt. Ltd., Hari Chand, and Messrs. Damani Bros. were remanded to their respective benches for further proceedings under section 245D(1). Case-Laws Income Tax Wed, 15 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152093