https://www.taxtmi.com/caselaws?id=411817 The writ court's interference with a Settlement Commission order is limited to serious error in decision-making, perversity, or jurisdictional illegality, and it cannot substitute its own view on valuation or disclosure. Here, the Settlement Commission gave reasons for rejecting the assessee's reliance on alleged duplicate books as incomplete and unreliable, and it plausibly adopted the net accretion to asset method while accepting the assessee's year-wise working. Additional disclosure made during settlement proceedings, in the context of the Commission's directions and the assessee's cooperation, did not by itself negate full and true disclosure at the threshold. The writ court's interference was therefore unsustainable, and the Commission's order was restored. en-us Wed, 18 Aug 2021 00:00:00 +0530 Tue, 22 Feb 2022 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411817 The writ court's interference with a Settlement Commission order is limited to serious error in decision-making, perversity, or jurisdictional illegality, and it cannot substitute its own view on valuation or disclosure. Here, the Settlement Commission gave reasons for rejecting the assessee's reliance on alleged duplicate books as incomplete and unreliable, and it plausibly adopted the net accretion to asset method while accepting the assessee's year-wise working. Additional disclosure made during settlement proceedings, in the context of the Commission's directions and the assessee's cooperation, did not by itself negate full and true disclosure at the threshold. The writ court's interference was therefore unsustainable, and the Commission's order was restored. Case-Laws Income Tax Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411817