2024 (9) TMI 223 - SCH - Income Tax

Ceasure of income tax settlement commission - restriction to the filing of the application before the Interim Board for Settlement - As decided by HC 2023 (11) TMI 1111 - MADRAS HIGH COURT Section 245C(5) of the Income Tax Act, 1961 (as amended by the Finance Act, 2021) is read down by removing the retrospective last date of 1st date of February, 2021 as 31st day of March, 2021 and Consequently the last date of eligibility mentioned paragraph 4(i) of the impugned circular dated 28.09.2021 shall also be read as 31.03.2021 and all the applications in respect of the petitioners even in respect of the cases arising between 01.02.2021 to 31.03.2021 shall be deemed be pending applications and shall be deemed to be pending applications for the purposes of consideration by the Interim Board HELD THAT - Following the order passed by this Court in Union of India and Ors. vs. Velammal Chennai Educational Trust 2024 (9) TMI 101 - SC ORDER this Special Leave Petition stands dismissed. We also note that in the aforesaid case, petitioners had in fact withdrawn the Special Leave Petition(s) and the same was dismissed as withdrawn. This Special Leave Petition is dismissed in view of the above. Pending application(s), if any, shall stand disposed of.

Summary

The Supreme Court dismissed the Special Leave Petition citing a previous order where the petitioners had withdrawn the petition. The delay was condoned, and pending applications were disposed of.