High Court Quashes CBDT Condition for Settlement Application, Allows Interim Board to Reconsider Petitioner's Case.

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....The High Court held that the Interim Board for Settlement erred in rejecting the petitioner's settlement application for the relevant assessment years based on the condition in the CBDT notification that the assessee should be eligible on January 21, 2021. The court relied on its previous decision in Sar Senapati Santaji Ghorpade Sugar Factory Ltd., which quashed the said condition as ultra vires Section 119. Following this precedent and its recent decision in M/s. Vishwakarma Developers, the court allowed the present proceedings and quashed the orders passed by the Interim Settlement Board rejecting the petitioner's application.....