https://www.taxtmi.com/caselaws?id=344515 Full and true disclosure under section 245C(1) of the Income-tax Act requires disclosure of undisclosed income and the manner of its derivation, but later disclosures do not automatically show that the original settlement application was false or incomplete. The Gujarat HC distinguished cases where subsequent additions materially changed the settlement basis from cases where the extra disclosure was limited in the context of multiple assessment years. On the facts, the additional disclosure of Rs. 50 lakhs each was not treated as undermining the original applications, and the Settlement Commission's acceptance of the settlement under section 245D(4) was sustained. en-us Tue, 13 Jun 2017 00:00:00 +0530 Thu, 20 Dec 2018 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344515 Full and true disclosure under section 245C(1) of the Income-tax Act requires disclosure of undisclosed income and the manner of its derivation, but later disclosures do not automatically show that the original settlement application was false or incomplete. The Gujarat HC distinguished cases where subsequent additions materially changed the settlement basis from cases where the extra disclosure was limited in the context of multiple assessment years. On the facts, the additional disclosure of Rs. 50 lakhs each was not treated as undermining the original applications, and the Settlement Commission's acceptance of the settlement under section 245D(4) was sustained. Case-Laws Income Tax Tue, 13 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344515