https://www.taxtmi.com/caselaws?id=273764 A writ petition challenging an Income Tax Settlement Commission order was held barred by laches because it remained unattended for a substantial period, the delay in curing defects and pursuing the matter was unsatisfactorily explained, and the beneficiary had altered position meanwhile. On merits, the Commission's grant of immunity from prosecution and acceptance of settlement were upheld because they were based on the settlement report, the assessee's reply, the material on record, cooperation during proceedings, and additional income offered in the spirit of settlement. No arbitrariness or lack of basis was shown, so interference was refused and the petition dismissed. en-us Tue, 18 Apr 2017 00:00:00 +0530 Fri, 13 Jul 2018 06:11:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273764 A writ petition challenging an Income Tax Settlement Commission order was held barred by laches because it remained unattended for a substantial period, the delay in curing defects and pursuing the matter was unsatisfactorily explained, and the beneficiary had altered position meanwhile. On merits, the Commission's grant of immunity from prosecution and acceptance of settlement were upheld because they were based on the settlement report, the assessee's reply, the material on record, cooperation during proceedings, and additional income offered in the spirit of settlement. No arbitrariness or lack of basis was shown, so interference was refused and the petition dismissed. Case-Laws Income Tax Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273764