https://www.taxtmi.com/caselaws?id=346608 The High Court set aside the Income Tax Settlement Commission's order and directed them to proceed with the petitioner's application under Section 245D (1) of the Income Tax Act. The Court held that the petitioner's offer to withdraw certain claims and disclose income before the ITSC satisfied the requirement of disclosing income not previously declared before the Assessing Officer. The Court emphasized that demonstrating a fresh source of income was not mandatory, contrary to the ITSC's decision. The writ petition was allowed in favor of the petitioner, with the ITSC instructed to reconsider the application based on the Court's interpretation of disclosure requirements. en-us Fri, 11 Aug 2017 00:00:00 +0530 Sat, 19 Aug 2017 08:21:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346608 The High Court set aside the Income Tax Settlement Commission's order and directed them to proceed with the petitioner's application under Section 245D (1) of the Income Tax Act. The Court held that the petitioner's offer to withdraw certain claims and disclose income before the ITSC satisfied the requirement of disclosing income not previously declared before the Assessing Officer. The Court emphasized that demonstrating a fresh source of income was not mandatory, contrary to the ITSC's decision. The writ petition was allowed in favor of the petitioner, with the ITSC instructed to reconsider the application based on the Court's interpretation of disclosure requirements. Case-Laws Income Tax Fri, 11 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346608