Power to 'settle' cases.

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....ble them to determine the tax liability, reduce or waive penalty, compound offences and grant immunity from prosecution in suitable cases. 2. The issue has been considered by the Board and the following clarifications are issued in this regard> (i) There is no power conferred by the Income-tax Act or other direct tax enactments on the Commissioners to "settle" cases; (ii) A separate machinery w....

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.... particular assessment year, the status under which such income should be brought to tax, whether deposits and other assets are to be spread over a period of years, etc. have to be decided by the assessing officers on the facts of each case and should be capable of being sustained on an inspection of the file in which the decision has been taken. 3 . In cases where evidence of tax evasion has bee....