https://www.taxtmi.com/caselaws?id=450088 The Kerala HC upheld the Settlement Commission's rejection of a settlement application under Section 245C. The petitioner, a director and promoter of multiple companies, failed to provide full and true particulars of undisclosed income discovered during search and seizure operations. The Commission found evidence of unaccounted sales through under-invoicing and cash collections. Despite opportunities during hearings, the petitioner could not explain the basis for apportioning undisclosed income between himself and the company. The HC held that Section 245C requires complete disclosure with clean hands, and the petitioner's failure to provide true facts justified the Commission's rejection. The court found no grounds to interfere with the reasoned order. en-us Fri, 09 Feb 2024 00:00:00 +0530 Tue, 27 Feb 2024 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450088 The Kerala HC upheld the Settlement Commission's rejection of a settlement application under Section 245C. The petitioner, a director and promoter of multiple companies, failed to provide full and true particulars of undisclosed income discovered during search and seizure operations. The Commission found evidence of unaccounted sales through under-invoicing and cash collections. Despite opportunities during hearings, the petitioner could not explain the basis for apportioning undisclosed income between himself and the company. The HC held that Section 245C requires complete disclosure with clean hands, and the petitioner's failure to provide true facts justified the Commission's rejection. The court found no grounds to interfere with the reasoned order. Case-Laws Income Tax Fri, 09 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450088