9911796707
TMI Blog2022 (2) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... he redressal of Family disputes - HELD THAT:- Settlement Commission, in exercise of Section 245D(4) provision, has already passed an order which has been given to its effect vide order dated 14.03.2019 (Annexure R-5/5), even before filing of this petition, yet the same has not been challenged by the Petitioners irrespective of the fact that the order impugned dated 02.02.2018 (Annexure P/1) has been merged therein. Pertinently to be observed here further that the Petitioner Suresh Shadija and Respondents No. 3 4 (Shri Pawan Kumar Shadija and Smt. Sandhya Shadija) belong to the same family and it appears to be of their personal dispute as reflected from the proceedings (Annexure P/24) initiated by the Petitioner on 11.05.2017 before t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ners have purchased the same in the year 2010 and became major share holders. However, in the year 2016, the Respondents No.3 and 4 have raised a dispute before the Income Tax Settlement Commission (IT WT), Kolkata by filing an application, wherein the Settlement Commission has passed the order impugned without noticing the Petitioners. Further contention of the Petitioners is that 4,95,000 shares have been sold to M/s. Akruti Trexim Private Limited, wherein Suresh Shadija and the Respondent No.3 Shri Pawan Kumar Shadija (both real brothers) are the Directors of the said Company (M/s. Akruti Trexim Private Limited) and without disclosing these material facts before the said authority, the order impugned has been passed on the basis of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invalid, and shall send the copy of such order to the applicant and the [Principal Commissioner or Commissioner]: Provided that an application shall not be declared invalid unless an opportunity has been given to the applicant of being heard; Provided further that where the [Principal Commissioner or Commissioner] has not furnished the report within the aforesaid period, the Settlement Commission shall proceed further in the matter without the report of the [Principal Commissioner or Commissioner]:] Provided also that where in respect of an application, an order, which was required to be passed under this subsection on or before the 31st day of January, 2021, has not been passed on or before the 31st day of January, 2021, such app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 245D(4) - After examination of the records and the report of the [Principal Commissioner or Commissioner], if any, received under: (i) sub-section (2B) or sub-section (3), or (ii) the provisions of sub-section (1) as they stood immediately before their amendment by the Finance Act, 2007, and after giving an opportunity to the applicant and to the [Principal Commissioner or Commissioner] to be heard, either in person or through a representative duly authorised in this behalf, and after examining such further evidence as may be placed before it or obtained by it, the Settlement Commission may, in accordance with the provisions of this Act, pass such order as it thinks fit on the matters covered by the application and any ot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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