https://www.taxtmi.com/caselaws?id=427111 The court quashed the settlement commission's order granting partial immunity under Section 245H(1) of the Income Tax Act to the assessee. Despite finding discrepancies in income disclosure and intentional non-maintenance of records, the commission granted partial immunity, which the court deemed incorrect and illegal. The judgment stressed the significance of full income disclosure and cooperation with the settlement commission, emphasizing that intentional non-compliance with statutory duties can affect immunity from penalties. The writ petition was allowed to the extent of annulling the partial immunity granted to the assessee, reinforcing the importance of adhering to legal obligations. en-us Wed, 24 Aug 2022 00:00:00 +0530 Thu, 01 Sep 2022 10:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427111 The court quashed the settlement commission's order granting partial immunity under Section 245H(1) of the Income Tax Act to the assessee. Despite finding discrepancies in income disclosure and intentional non-maintenance of records, the commission granted partial immunity, which the court deemed incorrect and illegal. The judgment stressed the significance of full income disclosure and cooperation with the settlement commission, emphasizing that intentional non-compliance with statutory duties can affect immunity from penalties. The writ petition was allowed to the extent of annulling the partial immunity granted to the assessee, reinforcing the importance of adhering to legal obligations. Case-Laws Income Tax Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427111