https://www.taxtmi.com/caselaws?id=34661 The court held that the Settlement Commission exceeded its jurisdiction by enhancing the income when the disclosure was not accepted as genuine. The court emphasized the importance of full and true disclosure for settlement and immunity from penalties. It clarified that the Commission's powers are limited to the settlement procedure under section 245C and not for reassessment. The orders of the Settlement Commission were set aside, allowing the Assessing Officer to proceed as per law, provided it is not barred by limitation. No costs were awarded to any party. en-us Thu, 16 Jul 2009 00:00:00 +0530 Wed, 07 Sep 2011 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34661 The court held that the Settlement Commission exceeded its jurisdiction by enhancing the income when the disclosure was not accepted as genuine. The court emphasized the importance of full and true disclosure for settlement and immunity from penalties. It clarified that the Commission's powers are limited to the settlement procedure under section 245C and not for reassessment. The orders of the Settlement Commission were set aside, allowing the Assessing Officer to proceed as per law, provided it is not barred by limitation. No costs were awarded to any party. Case-Laws Income Tax Thu, 16 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34661