https://www.taxtmi.com/caselaws?id=354312 At the admission stage under the Income-tax Act, an assessee must satisfy the Settlement Commission that the disclosure is full and true and that the manner of earning the income has been properly disclosed. The Commission found that the seized diary entries, alleged "not done" transactions, correlation with the paper books, and additional income shown in the second application were not cogently explained. The High Court declined to reappreciate that factual assessment or substitute its own view in writ jurisdiction, finding no palpable error, arbitrariness, or breach of the Act. The rejection of the settlement application was therefore upheld. en-us Fri, 19 Jan 2018 00:00:00 +0530 Mon, 14 May 2018 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354312 At the admission stage under the Income-tax Act, an assessee must satisfy the Settlement Commission that the disclosure is full and true and that the manner of earning the income has been properly disclosed. The Commission found that the seized diary entries, alleged "not done" transactions, correlation with the paper books, and additional income shown in the second application were not cogently explained. The High Court declined to reappreciate that factual assessment or substitute its own view in writ jurisdiction, finding no palpable error, arbitrariness, or breach of the Act. The rejection of the settlement application was therefore upheld. Case-Laws Income Tax Fri, 19 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354312