https://www.taxtmi.com/caselaws?id=244302 The High Court found that the Income Tax Settlement Commission's decision to grant immunity from penalty and prosecution to the assessee was improper. The assessee did not fulfill the conditions of full and true disclosure of income and voluntary cooperation during the settlement proceedings. The Court held that the assessee's delayed and incomplete disclosures, made under pressure, did not meet the legal requirements for immunity. As a result, the High Court overturned the ITSC's decision and ruled in favor of the revenue, setting aside the immunity granted to the assessee. en-us Mon, 10 Feb 2014 00:00:00 +0530 Wed, 18 Feb 2026 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244302 The High Court found that the Income Tax Settlement Commission's decision to grant immunity from penalty and prosecution to the assessee was improper. The assessee did not fulfill the conditions of full and true disclosure of income and voluntary cooperation during the settlement proceedings. The Court held that the assessee's delayed and incomplete disclosures, made under pressure, did not meet the legal requirements for immunity. As a result, the High Court overturned the ITSC's decision and ruled in favor of the revenue, setting aside the immunity granted to the assessee. Case-Laws Income Tax Mon, 10 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244302