2023 (12) TMI 719

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....o quash the impugned order passed by the first respondent/Interim Board for Settlement-II and to direct the 1st respondent to accept the application of the petitioner and pass appropriate orders in accordance with the provisions of Income Tax Act, 1961. 2. Mr. V.S. Jayakumar, learned Senior counsel appearing representing Mr.Sandeep Bagmar, the learned counsel for the petitioner would submit that the petitioner herein, in order to settle the pending open assessments for the Assessment Years 2012-13 to 2018-19, approached the Income Tax Settlement Commission on two occasions by filing application and the same came to be rejected by the Settlement Commission for two occasions i.e. on 27.12.2019 and 19.01.2021 for the reason that tax on addi....

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.... 28,37,570 1,01,63,500 1,30,01,070 42,18,197 2,14,14,767 (1,71,96,570) 2016-17 (6,50,78,265) 1,17,36,986 (5,33,41,279) 14,578 1,00,82,261 (1,00,67,684) 2017-18 3,86,83,60,487 63,16,382 3,89,30,83,164 1,67,80,09,900 1,64,10,54,871 3,69,55,029 2018-19 60,64,90,110 - 60,64,90,110 23,54,65,990 15,86,58,635 7,68,07,355 TOTAL 4,16,41,52,594 4,50,16,868 4,22,77,27,870 1,94,22,54,365 1,85,38,06,696 8,74,47,668 2.1 The learned Senior Counsel for the petitioner submitted that despite the fact that the petitioner paid entire tax due and interest, their application came to be rejected by the first respondent/Interim Board for Settlement II on 15.09.20....

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.... and no further amount is liable to be paid by the petitioner towards tax as well as interest, and hence, 1st respondent may be directed to take the petitioner's application on record and dispose of the same in accordance with law, and in the event if any amount is still due, the application need not be considered. However, the learned counsel assured that no amount is due to be paid by the petitioner towards tax and interest. 5. Heard the submissions made by Mr.V.S.Jayakumar, learned Senior Counsel appearing for the petitioner and Mr.A.P.Srinivas, learned Senior Standing counsel appearing for the respondents 2 and 3. 6. A mere perusal of the order impugned herein as well as the application made by the petitioner for third occasio....