Commissioners of Income-tax should pass comprehensive orders and also obtain from the assessees comprehensive letters of agreement covering all points penalties u/s. 271(1)(a), u/s. 273 interests u/s. 139, 215 and 217.

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..... he Board on the settlements finalized by the Commissioners in the last few months has revealed that the formal orders passed by the Commissioners at the conclusion of a settlement are not comprehensive. More often than not the Commissioners have been confining themselves to the quantum of settlement the spread over, and the penalty for concealment. The orders passed by the Commissioners and the ag .....

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..... ive orders and also obtain from the assessees comprehensive letters of agreement covering all points such as prosecutions the various penalties imposable under the Act, the various interests leviable under the Act and finally the time in which the taxes are to be paid the security to be offered by the assessees in payments of taxes etc. 3. These instructions may kindly be noted for strict compli .....

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