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TMI BlogThe Income-tax Settlement Commission (Procedure)Rules, 1987X X X X Extracts X X X X X X X X Extracts X X X X ..... hort title and commencement. (1) These rules may be called the Income-tax Settlement Commission (Procedure) Rules, 1987. (2) They shall come into force on the 1st day of June 1987. 2. Definitions. In these rules, unless the context otherwise requires, - (i) Act means the Income-tax Act, 1961 (43 of 1961); (ii) applicant means a person who makes an application to the Commission under subsection (1) of section 245C to have a case relating to him settled; (iii) authorised representative' means (a) in relation to an applicant, except where such applicant is required under any of the provisions of Chapter XIXA of the Act to attend in person, a person who would be entitled to represent him before any income-tax authority or the Appellate Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any other Member of the Commission or by a Secretary. (3) Nothing in sub-rule (1) shall apply to any requisition or direction which the Commission may, in the course of the hearing, issue to an applicant or a Commissioner or an authorised representative, personally. 5. Procedure for filing settlement application. (1) A settlement application shall be presented by the applicant in person or by his agent to the Secretary at the headquarters of the Commission at New Delhi or of the Bench) within whose jurisdiction his case falls or to an officer authorised in this behalf by the Secretary, or shall be sent by registered post addressed to the Secretary, or to such officer. (2) A settlement application sent by post under sub-rule (1) shall be dee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure (including the statements and other documents accompanying it or within such further period as the Commission may specify. 9. Date and place for hearing of application to be notified. On receipt of the Commissioner's further report under rule 8, the Commission shall notify to the applicant and the Commissioner the date and place of hearing of the application. 10. Sitting of Bench. A Bench shall hold its sittings at its headquarters or such other place as it may consider convenient. 11. Powers of Bench. A Bench shall dispose of such settlement applications or matters arising there from as the Chairman may by general or special order direct. 12. Filing of authorisation. An authorised representative appearing for the applicant at the h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f section 245D allowing the application to be proceeded with, a notice shall be issued by the Commission to the applicant requiring him to furnish in quintuplicate (a) a full and true statement of facts regarding the mattes to be settled (including the manner in which any income disclosed or proposed to be disclosed by the applicant has been derived); and where the settlement involves determination of income, accompanied with annexures containing (i) computation of total income of the applicant for the assessment year or years to which the settlement application relates, in accordance with the provisions of the Act. (ii) copies of manufacturing account or trading account or both, as the case may be; profit and loss account or income and exp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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