https://www.taxtmi.com/caselaws?id=58090 Exclusive jurisdiction of the Settlement Commission under sections 245C and 245F applies only to the assessee who files the settlement application. Because a firm and its partner are separate assessable entities, the pendency of the firm's settlement proceedings did not bar rectification of the partner's assessment under section 155 on the basis of the firm's assessed income then available. The Income-tax Officer could proceed with the partner's rectification, subject to later consequential modification if the firm's income was altered by the Settlement Commission. The rectification was therefore upheld and the challenge failed. en-us Thu, 18 Jun 1987 00:00:00 +0530 Fri, 17 Dec 2010 12:50:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58090 Exclusive jurisdiction of the Settlement Commission under sections 245C and 245F applies only to the assessee who files the settlement application. Because a firm and its partner are separate assessable entities, the pendency of the firm's settlement proceedings did not bar rectification of the partner's assessment under section 155 on the basis of the firm's assessed income then available. The Income-tax Officer could proceed with the partner's rectification, subject to later consequential modification if the firm's income was altered by the Settlement Commission. The rectification was therefore upheld and the challenge failed. Case-Laws Income Tax Thu, 18 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58090