2019 (4) TMI 789 - SCH - Income Tax

Income-Tax Settlement Commission order been passed u/s 245(D)(4) - condonation of delay - Petitioner has placed reliance on the observations in Ajmera Housing Corporation and Anr. Vs. Commissioner of Income Tax 2010 (8) TMI 35 - SUPREME COURT OF INDIA . HELD THAT - In the present case, it has been submitted that the assessee had initially disclosed an additional income of ₹ 64.19 crores which was subsequently enhanced by an additional amount of ₹ 10.18 crores. Issue notice on the application for condonation of delay and on the Special Leave Petition, returnable in eight weeks.

Summary

The Supreme Court ordered to issue notice on the application for condonation of delay and on the Special Leave Petition, returnable in eight weeks. The petitioner relied on a previous judgment in Ajmera Housing Corporation case regarding additional income disclosure.