https://www.taxtmi.com/caselaws?id=20906 An application for settlement under Chapter XIX-A was held to be governed by the amended section 245C in force on the date of filing, because the settlement scheme is a conditional statutory concession and not a vested right. The amended provision required full and true disclosure of undisclosed income, the manner of derivation, and the additional tax payable, together with the applicable monetary threshold. As the application filed in 1989 did not satisfy those statutory conditions, it was not maintainable. The rejection of the settlement application was therefore upheld, and the writ appeal failed with costs. en-us Tue, 13 Oct 1992 00:00:00 +0530 Thu, 15 Mar 2018 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20906 An application for settlement under Chapter XIX-A was held to be governed by the amended section 245C in force on the date of filing, because the settlement scheme is a conditional statutory concession and not a vested right. The amended provision required full and true disclosure of undisclosed income, the manner of derivation, and the additional tax payable, together with the applicable monetary threshold. As the application filed in 1989 did not satisfy those statutory conditions, it was not maintainable. The rejection of the settlement application was therefore upheld, and the writ appeal failed with costs. Case-Laws Income Tax Tue, 13 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20906