9911796707
TMI BlogReceipt of application u/s 245C of Income-tax Act, 1961/22C of the Wealth-tax Act, 1957.X X X X Extracts X X X X X X X X Extracts X X X X ..... t, 1957, the Settlement Commission calls for a report from the Commissioner as provided in section 245D(1)/22D(1). The second proviso to Section 245D(1)/22D(1) before its deletion with effect from 1st April 1979 and sub-section (1A) of section 245D/22D introduced with effect from that date, stipulate that an application shall not be proceeded with if the Commissioner objects thereto on the ground ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an order not allowing the application to be proceeded with, (a) it is open to the Commissioner of Income-tax to reconsider the matter either on the assessee requesting him to do so or on the Commission asking him for a further report, and (b) if, on reconsideration the Commissioner can intimate to the Commission that he has no objection to the application being proceeded with by the Commission. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have held that the Settlement Commission did a fresh order in the presence of both parties. It would thus appear that in such circumstances it is open to the Settlement Commission to call for a fresh report from the Commissioner of Income-tax/Wealth-tax. 4. While making his fresh report in the above circumstances, there is no objection to a Commissioner revising his view if he has any fresh fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances of the case. It is essentially for the Commissioner to come to a conclusion whether there was misappreciation of the facts and circumstances earlier in the matter. In this connection, the Commissioners of Income-tax/Wealth-tax will, no doubt, always keep in mind the observations of the Supreme Court in CIT v. B.N. Bhattacharjee and Another to the effect that the Commissioner of Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
