https://www.taxtmi.com/caselaws?id=391116 The case involved settlement of an income tax dispute before the Settlement Commission following the seizure of cash and fixed deposits. The petitioners requested adjustments of seized assets towards their tax liability. Despite claims of adjustments being made, there was a lack of communication to the Commission. The Court deemed the writ petitions premature due to pending rectification applications and directed the Commission to decide on them within a specified timeframe. Additionally, the Court ordered the liquidation of fixed deposits seized and appropriation towards tax liability, with any excess amounts to be refunded and deficits to be paid with interest. en-us Thu, 05 Dec 2019 00:00:00 +0530 Mon, 20 Jan 2020 09:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391116 The case involved settlement of an income tax dispute before the Settlement Commission following the seizure of cash and fixed deposits. The petitioners requested adjustments of seized assets towards their tax liability. Despite claims of adjustments being made, there was a lack of communication to the Commission. The Court deemed the writ petitions premature due to pending rectification applications and directed the Commission to decide on them within a specified timeframe. Additionally, the Court ordered the liquidation of fixed deposits seized and appropriation towards tax liability, with any excess amounts to be refunded and deficits to be paid with interest. Case-Laws Income Tax Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391116