https://www.taxtmi.com/caselaws?id=378512 Belated retraction of a search statement did not displace the evidentiary value of the section 132(4) statement and seized register where it was unsupported by coercion, duress, or credible material proving the identity, creditworthiness and genuineness of alleged cash lenders and repayments. A settlement application under section 245C also had to rest on full and true disclosure of undisclosed income at the outset; a later enhanced offer could not cure an original defect in disclosure. The Settlement Commission's order was therefore unsustainable, and the Revenue was left to complete the assessments in accordance with law. en-us Mon, 15 Apr 2019 00:00:00 +0530 Sat, 15 Jun 2019 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378512 Belated retraction of a search statement did not displace the evidentiary value of the section 132(4) statement and seized register where it was unsupported by coercion, duress, or credible material proving the identity, creditworthiness and genuineness of alleged cash lenders and repayments. A settlement application under section 245C also had to rest on full and true disclosure of undisclosed income at the outset; a later enhanced offer could not cure an original defect in disclosure. The Settlement Commission's order was therefore unsustainable, and the Revenue was left to complete the assessments in accordance with law. Case-Laws Income Tax Mon, 15 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378512