2016 (8) TMI 1313

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..... d been full disclosure - Held that: - it is a fit case where the judgment and order passed by the High Court and the order passed by the Settlement Commission should be set aside, subject to deposit of ₹ 75 crores before the department by the appellant within a period of twelve weeks and, accordingly, we so direct - After the amount is deposited, the Settlement Commission shall hear the part .....

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..... t, has adverted to the merits of the case, though it had heard only on the issue of maintainability. According to him, the order passed by the Settlement Commission was absolutely justified and did not warrant any interference by the High Court. The said submissions are seriously controverted by Mr. Panda, learned senior counsel appearing for the respondent. On a perusal of the order pass .....

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..... nce with law. Be it noted, while passing the orders, the Settlement Commission shall not refer to the judgment and order passed by the High Court as we have set aside the same. We may hasten to clarify that we have not expressed any opinion on the merits of the case. The appeal is allowed to the extent indicated above. There shall be no order as to costs. - - TaxTMI - TMITax - Custom .....

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