https://www.taxtmi.com/caselaws?id=288444 The High Court clarified the Settlement Commission's authority to impose a penalty under Section 271(1)(c) and allowed the Petitioner to accept the order, pay the due amount, and seek restoration of immunity. The Petitioner must provide an undertaking to adhere to the terms, with non-compliance leading to immediate enforcement of the order. Despite objections, the Court granted immunity based on factors including partial payment and commitment to settle. The Petition was dismissed contingent on submitting the undertaking within two weeks, with failure resulting in automatic withdrawal of immunities. en-us Fri, 06 Sep 2019 00:00:00 +0530 Sun, 07 Jun 2020 19:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288444 The High Court clarified the Settlement Commission's authority to impose a penalty under Section 271(1)(c) and allowed the Petitioner to accept the order, pay the due amount, and seek restoration of immunity. The Petitioner must provide an undertaking to adhere to the terms, with non-compliance leading to immediate enforcement of the order. Despite objections, the Court granted immunity based on factors including partial payment and commitment to settle. The Petition was dismissed contingent on submitting the undertaking within two weeks, with failure resulting in automatic withdrawal of immunities. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288444