https://www.taxtmi.com/caselaws?id=409672 Full and true disclosure of undisclosed income is a mandatory condition for invoking settlement jurisdiction, and a later revision or enlargement of the disclosure cannot cure an incomplete application. The Madras High Court noted that the income ultimately determined by the Settlement Commission substantially exceeded the income disclosed in the settlement applications, showing a failure of the statutory precondition. On that basis, the Court held that the Commission was not justified in entertaining the applications, granting settlement reliefs, or extending consequential immunity, and the impugned settlement orders were set aside. en-us Thu, 27 May 2021 00:00:00 +0530 Fri, 22 Oct 2021 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409672 Full and true disclosure of undisclosed income is a mandatory condition for invoking settlement jurisdiction, and a later revision or enlargement of the disclosure cannot cure an incomplete application. The Madras High Court noted that the income ultimately determined by the Settlement Commission substantially exceeded the income disclosed in the settlement applications, showing a failure of the statutory precondition. On that basis, the Court held that the Commission was not justified in entertaining the applications, granting settlement reliefs, or extending consequential immunity, and the impugned settlement orders were set aside. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409672