https://www.taxtmi.com/caselaws?id=411351 A settlement application under Chapter XIX-A of the Income-tax Act, 1961 is maintainable only on a bona fide full and true disclosure of undisclosed income. The Court found that the disclosure was not genuine, because the income offered did not reflect the true suppression revealed in the search and the claimed expenses were not supported by the material before the Commission. The Settlement Commission should therefore have rejected the application, and the limited scope of writ review did not bar interference where the decision-making process was vitiated by this foundational defect. The settlement order was set aside and the matter remitted for assessment in accordance with law. en-us Fri, 11 Jun 2021 00:00:00 +0530 Mon, 23 Aug 2021 12:13:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411351 A settlement application under Chapter XIX-A of the Income-tax Act, 1961 is maintainable only on a bona fide full and true disclosure of undisclosed income. The Court found that the disclosure was not genuine, because the income offered did not reflect the true suppression revealed in the search and the claimed expenses were not supported by the material before the Commission. The Settlement Commission should therefore have rejected the application, and the limited scope of writ review did not bar interference where the decision-making process was vitiated by this foundational defect. The settlement order was set aside and the matter remitted for assessment in accordance with law. Case-Laws Income Tax Fri, 11 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411351