2007 (2) TMI 196

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....KATARAMAN J.- The petitioner seeks the issue of a certiorarified mandamus to quash the order dated August 5, 2002, passed by the first respondent herein, namely, the Settlement Commission, and to direct the first respondent to rehear the case after considering the evidence and materials. The petitioner herein filed an income-tax settlement application for settlement of his liability relating to....

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....the basis of the material evidence in comparable cases and hence, the determination was thus incorrect, high pitched and without any basis. Heard counsel for both sides. A perusal of the order of the first respondent shows that there was a search in the petitioner's business premises on August 5, 1992. The petitioner was engaged in the business of selling lottery tickets as a sole selling ag....

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....the only way to settle the case would be to estimate the net profit. The only figure on which both the Department and the applicant have agreed is in respect of the turnover of the applicant." In the above circumstances, the Settlement Commission took the net profit at 0.75 per cent. of the turnover and determined the income. In the light of what has been stated by the first respondent, we do not ....

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....rporation v. ITO) clearly lays down the parameters of the scope of the enquiry by the High Court under article 226 or by the Supreme Court under article 136 of the Constitution of India. In the circumstances, where the Commission has, on the basis of materials on record, come to a decision, it would not be open to the High Court to substitute its view on the materials disclosed in preference to th....