https://www.taxtmi.com/caselaws?id=757186 A settlement application was treated as abated because the disclosure of unaccounted income was not true and full. The High Court set aside the Settlement Commission's order under section 245D(4) after finding the Volumetric Report unreliable, noting that the report was prepared by an incompetent person and contained gross inaccuracies, including implausible production figures. It also found error in the Commission's rejection of a State Government report prepared at the Court's direction. The Supreme Court declined to interfere, and the special leave petitions were dismissed. en-us Tue, 13 Aug 2024 00:00:00 +0530 Fri, 01 May 2026 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757186 A settlement application was treated as abated because the disclosure of unaccounted income was not true and full. The High Court set aside the Settlement Commission's order under section 245D(4) after finding the Volumetric Report unreliable, noting that the report was prepared by an incompetent person and contained gross inaccuracies, including implausible production figures. It also found error in the Commission's rejection of a State Government report prepared at the Court's direction. The Supreme Court declined to interfere, and the special leave petitions were dismissed. Case-Laws Income Tax Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757186