2022 (3) TMI 1037

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....ct, 1961. The aforesaid rejection by the Commissioner was made in view of Finance Act, 2021 amending the provisions of Income Tax Act, 1961 inter alia that the Income Tax Settlement Commission shall not operate with effect from 1st February, 2021 and that no application for settlement shall be filed on or after the date of tabling of the Finance Bill, 2021 before the Lok Sabha i.e. 1st February, 2021. Admittedly, in this case, application for settlement under Section 245C(1) of the Act was filed on 17th March, 2021 while the Settlement Commission had ceased to operate w.e.f. 1st February, 2021 in view of the aforesaid Finance Act, 2021 amending the provisions of the Act. Petitioner in support of his contention that his aforesaid appli....

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....Income-tax Settlement Commission (ITSC) shall cease to operate with effect from 01.02.2021. Further, it has also been provided that no application for settlement can be filed on or after 01.02.2021, which was the date on which the Finance Bill, 2021 was laid before the Lok Sabha. In order to dispose of the pending settlement applications as on 31.01.2021, the Central Government has constituted Interim Board for Settlement (hereinafter referred to as the "Interim Board"), vide notification No. 91 of 2021 dated 10.08.2021. 2. Meanwhile, in order to avoid genuine hardship to number of taxpayers who were in the advanced stages of filing their application for settlement before the ITSC as on 01.02.2021 and also due to the hardship faced....

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....ng of paragraph 2 of the said order of the Board it appears to me that the benefit of extension of time to file application for settlement has been granted to those who were eligible to file application for settlement on 31st March, 2021 and in their cases time to file such application was extended till the period 30th September, 2021 and it is definitely not applicable to the case of the petitioner who was not eligible to file on 31st March, 2021 and who has filed the said application before the settlement commission on 17th March, 2021 and in view of this admitted position of the petitioner himself that notice under Section 153A of the Act was issued to the petitioner on 2nd February, 2021 which according to the petitioner is the date of ....