Clause 281 - Powers of Settlement Commission after admission. - Direct Taxes Code, 2010

Powers of Settlement Commission after admission. 281. (1) The Settlement Commission shall have all the powers which are vested in an income-tax authority under this Code. (2) The Settlement Commission shall, after an application has been made under section 273— (a) and until a report under sub-section (3) of section 276 is made by the Commissioner or the time allowed for submission of the report under said section has expired, whichever is later, have concurrent jurisdiction with the Assessing Officer; and (b) thereafter until an order of settlement is passed under sub-section (1) of section 277, have exclusive jurisdiction to exercise the powers and perform the functions of any income-tax authority under this Code in relation to the case. (3) Notwithstanding anything in sub-section (2) and in the absence of any express direction to the contrary by the Settlement Commission, nothing contained in this section shall affect the operation of any other provision of this Code requiring the applicant to pay tax on the basis of self-assessment in relation to the matters before the Settlement Commission. (4) In the absence of any express direction by the Settlement Commission to the contrary, nothing in this Chapter shall affect the operation of the provisions of this Code in so far as they relate to any matters other than those before the Settlement Commission. (5) The Settlement Commission shall, subject to the provisions of this Chapter, have powers to regulate its own procedure and the procedure of the Benches thereof in all matters arising out of the exercise of its powers or of the discharge of its functions, including the places at which the Benches shall hold their sittings.