2024 (7) TMI 732 - SCH - Income Tax

Validity of Settlement Commission order - Order beyond the limitation prescribed u/s 245D(4A)(iii) and by operation of Section 245HA(1)(iv) - Non-disposal of the applications within the cut-off period. HELD THAT - It is pointed out by the learned counsel for the respondent -M/s. RNS Infrastructure Limited that assessment order has been passed and challenged in appeal by the respondent. In view of the aforesaid position, we are not inclined to interfere with the impugned judgment and hence, the special leave petition is dismissed. We clarify that the dismissal of the special leave petition will not be construed as an observation on the merits of the assessment order and the allegations.

Summary

The Supreme Court dismissed the special leave petition as the assessment order had been challenged in appeal by the respondent, clarifying that the dismissal does not reflect an opinion on the merits of the assessment order and allegations. Any pending applications were disposed of.