https://www.taxtmi.com/caselaws?id=438078 The Court upheld the Income Tax Settlement Commission's decision deeming the settlement applications for Assessment Years 2012-13 and 2013-14 invalid under Section 245D(1) of the Income Tax Act, 1961. It was determined that no 'case' existed for those years under Section 245A(b), as no notice under Section 148 was issued, rendering the applications not maintainable. The Court dismissed the petition challenging the orders and affirmed that the petitioners had made full and true disclosure, rejecting objections raised by the Principal Commissioner of Income Tax. The literal interpretation of Section 245A(b) was deemed consistent with legislative intent, leading to the dismissal of the petition. en-us Thu, 18 May 2023 00:00:00 +0530 Mon, 22 May 2023 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438078 The Court upheld the Income Tax Settlement Commission's decision deeming the settlement applications for Assessment Years 2012-13 and 2013-14 invalid under Section 245D(1) of the Income Tax Act, 1961. It was determined that no 'case' existed for those years under Section 245A(b), as no notice under Section 148 was issued, rendering the applications not maintainable. The Court dismissed the petition challenging the orders and affirmed that the petitioners had made full and true disclosure, rejecting objections raised by the Principal Commissioner of Income Tax. The literal interpretation of Section 245A(b) was deemed consistent with legislative intent, leading to the dismissal of the petition. Case-Laws Income Tax Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438078