https://www.taxtmi.com/caselaws?id=212009 HC upheld the Settlement Commission's order under section 245D(4), finding no breach of natural justice in proceedings and rejecting the challenge to the penalty. The petitioner had offered Rs.10 lakh for each AY; the Commission, after hearing on penalty, imposed Rs.2.75 crore under s.271(1)(c), clarified by corrigendum as Rs.1.92 crore for AY 2008-09 and Rs.82.50 lakh for AY 2009-10. The Court held the penalty falls within statutory limits (not less than tax sought to be evaded, not exceeding three times) and dismissed the challenge. en-us Wed, 22 Feb 2012 00:00:00 +0530 Sat, 16 May 2026 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212009 HC upheld the Settlement Commission's order under section 245D(4), finding no breach of natural justice in proceedings and rejecting the challenge to the penalty. The petitioner had offered Rs.10 lakh for each AY; the Commission, after hearing on penalty, imposed Rs.2.75 crore under s.271(1)(c), clarified by corrigendum as Rs.1.92 crore for AY 2008-09 and Rs.82.50 lakh for AY 2009-10. The Court held the penalty falls within statutory limits (not less than tax sought to be evaded, not exceeding three times) and dismissed the challenge. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212009