https://www.taxtmi.com/caselaws?id=349445 Settlement applications should not be rejected on isolated or technical grounds where the statutory scheme requires a composite examination. Non-response to a questionnaire issued by the Assessing Officer could not justify adverse inference once settlement proceedings were before the Settlement Commission and the assessment stood in abeyance. A marginal discrepancy between disclosed income and seized material, or an incorrect description of the entity's status, did not by itself negate full and true disclosure where the facts showed restructuring rather than a new set-up. The rejection was set aside and the applications were directed to be considered together in accordance with law. en-us Mon, 09 Oct 2017 00:00:00 +0530 Sat, 18 Nov 2017 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349445 Settlement applications should not be rejected on isolated or technical grounds where the statutory scheme requires a composite examination. Non-response to a questionnaire issued by the Assessing Officer could not justify adverse inference once settlement proceedings were before the Settlement Commission and the assessment stood in abeyance. A marginal discrepancy between disclosed income and seized material, or an incorrect description of the entity's status, did not by itself negate full and true disclosure where the facts showed restructuring rather than a new set-up. The rejection was set aside and the applications were directed to be considered together in accordance with law. Case-Laws Income Tax Mon, 09 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349445