Budget proposals for the F.Y.2016-17, inter alia in relation to the provisions of section 234B of the IT Act as applicable to the ITSC

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....w Delhi, 28th March, 2016 OFFICE MEMORANDUM Sub : Budget proposals for the F.Y.2016-17, inter alia in relation to the provisions of section 234B of the IT Act as applicable to the ITSC-reg. Kindly refer to reference ID No. F. No. 299/56/201MF(lnv.-III) dated 20.01.2016, along with a copy of DO letter dated 08.01.2016, received from Vice-chairman of the Income tax Settlement Commission (IT....

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....ending on the date of making such application, on the additional amount of income-tax referred to in that sub-section. Further; where as a result of on order of the Settlement Commission under sub-section (4) of section 245D for any assessment year, the amount of total income disclosed in the application under sub- section (1) of section 245C is increased, the assessee shall be liable to pay simpl....