TaxTMI 
TaxTMI 
Assessee can file a settlement application before the Settlement Commission.
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....re-assessment pending before an Income-tax Authority under the Income-tax Act, 1961 and Wealth tax Act, 1957. The application is to be filed in the form and manner prescribed under the rules. Sub-rule (1) of Rule 44C of Income-tax Rules, 1962 provides that the application for settlement shall be in Form No.34-B and sub-rule (3) thereon prescribes that it shall be accompanied with a fee of Rs.500/-....
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.... although he files only one application in respect of all the assessments pending yet he pays, by way of application fee, multiples of Rs.500/- according to the number of pending assessments. In such cases the assessee could as well have filed a single application for the assessment year accompanied by a fee of Rs.500/- only (and another Rs.500/- if he desired to cover Wealth-tax Assessments also)....
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....sclassified as they may be credited to the head 'Ordinary collections' instead of 'Other collections' . Since 'Other Receipts' in respect of non-companies do not form part of the divisible pool for distribution between Union and the States such misclassification will result in the amounts being included in the Divisible Pool to be distributed between the Centre and the States instead of the whole ....