2024 (8) TMI 890 - SCH - Income Tax

Settlement application as abated on account of it not being true and full disclosure of unaccounted income - report submitted by the Income Tax Department i.e. Volumetric Report relied upon - As decided by HC 2017 (5) TMI 427 - MADHYA PRADESH HIGH COURT Order passed u/s 245D(4) by the Settlement Commission is perverse and devoid of merits, both in law and on facts and hence deserves to be set aside and is accordingly set aside. The Settlement Commission has erred in upholding the survey report dated 24/07/2012 merely because Total Station Method and 3D scanning technique was used without considering the fact that the person preparing the said report was incompetent and did not possess the necessary qualification to prepare the said report and gross inaccuracies were writ large on the face of the report, like Manganese Ore being 83% and waste being 27% which is impossible. Moreover, the gross production for six years determined at 16 lac MT was more than the estimated reserve determined as epr the mining plan which again is impossible. The Settlement Commission has also erred in rejecting the report dated 17/06/2012 prepared by the State Government at the directions of this Court - HELD THAT - We are not inclined to interfere with the impugned judgment(s) passed by the High Court. The special leave petitions stand dismissed. Pending application(s), if any, stand disposed of.

Summary

The Supreme Court dismissed the special leave petitions and declined to interfere with the impugned judgment(s) passed by the High Court. Pending application(s) were disposed of.