https://www.taxtmi.com/caselaws?id=212634 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions. It ruled that the revised offer of additional income during Settlement Commission proceedings did not constitute a revision of the original application. The undisclosed income settled by the Commission was deemed final, and interest should be charged under Section 245D(6A), not Section 245D(2C). The Tribunal also affirmed the Commission's determination of income and interest charges as conclusive, citing legal precedents. Additionally, the Tribunal upheld the mandatory charging of interest under Section 158BFA for late filing of the block return, as directed by the Settlement Commission. en-us Fri, 30 Mar 2012 00:00:00 +0530 Wed, 18 Apr 2012 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212634 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions. It ruled that the revised offer of additional income during Settlement Commission proceedings did not constitute a revision of the original application. The undisclosed income settled by the Commission was deemed final, and interest should be charged under Section 245D(6A), not Section 245D(2C). The Tribunal also affirmed the Commission's determination of income and interest charges as conclusive, citing legal precedents. Additionally, the Tribunal upheld the mandatory charging of interest under Section 158BFA for late filing of the block return, as directed by the Settlement Commission. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212634