https://www.taxtmi.com/caselaws?id=6142 The Supreme Court quashed the proceedings before the special court in a case involving alleged concealment of income and tax evasion. The appellants had applied for settlement before the Settlement Commission, which granted them immunity from prosecution and penalties for the relevant assessment years. The Court held that since the immunity was granted before the initiation of prosecution proceedings, the appellants were entitled to immunity. However, non-compliance with the Commission's orders could result in the restoration of proceedings. The importance of adhering to the Settlement Commission's orders to maintain immunity under the Income-tax Act was emphasized, and the appeals were allowed. en-us Mon, 22 Mar 2004 00:00:00 +0530 Tue, 02 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6142 The Supreme Court quashed the proceedings before the special court in a case involving alleged concealment of income and tax evasion. The appellants had applied for settlement before the Settlement Commission, which granted them immunity from prosecution and penalties for the relevant assessment years. The Court held that since the immunity was granted before the initiation of prosecution proceedings, the appellants were entitled to immunity. However, non-compliance with the Commission's orders could result in the restoration of proceedings. The importance of adhering to the Settlement Commission's orders to maintain immunity under the Income-tax Act was emphasized, and the appeals were allowed. Case-Laws Income Tax Mon, 22 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6142