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TMI BlogThe Income Tax Settlement Commission (Procedure) Rules, 1997X X X X Extracts X X X X X X X X Extracts X X X X ..... lement Commission (Procedure) Rules, 1997 . (2) These shall come into force on the date of their publication in the official Gazette. 2. Definitions: In these rules, unless the context otherwise requires: (i) Act means the Income-tax Act, 1961 (43 of 1961) (ii) annexure means the annexure to the application in Form No. 34B , set out in Appendix II to Income-tax rules, 1962. (iii) applicant means a person who makes an application to the Commission under sub-section (1) of section 245C to have a case relating to him settled; (iv) authorised representative means, (a) in relation to an applicant, except where such applicant is required under any of the provisions of Chapter XIX-A of the Act to attend in person, a person who would be entitled to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion may, at the option of the Commission, be in Hindi or in English. 4. Signing of notices etc.: (1) Any requisition, direction, letter, authorisation, order or written notice to be issued by the Commission shall be signed by the Chairman or a Vice-Chairman or any other Member of the Commission or by Secretary (or by any other officer of the Commission); (2) 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 in Form No 34B, set out in Appendix II to Income-tax Rules, 1962, by the applicant in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f section 245D, of the Act, he may submit six copies of a paper book containing such papers duly indexed and paged, within thirty days or within such extended period as may be allowed by the Commission, of the receipt of an order under sub section (1) of section 245D. (3) If the Commissioner proposes to refer or rely upon any documents or statements or other papers during the course of hearing under sub-section (4) of section 245D of the Act, he may submit six copies of a paper book containing such papers duly indexed and paged along with his report referred in rule 9. (4) The Commission may, Suo moto, direct the preparation of six copies of paper book by and at the cost of the applicant or the Commissioner, as the case may be containing co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-section (3) of section 245D read with sub-section (2) of section 245F after making such further enquiry or investigation as necessary within 45 days of the receipt of the said annexures (including the statements and other documents accompanying them) or within such further period as the Commission may specify If the Commissioner fails to furnish his report on or before the expiry of the specified period of 45 days or such extended period, the Commission may pass the appropriate order without such report. 10. Date and place for hearing of application to be notified : On receipt of the Commissioner's further report, if any, referred to in Rule 9, the Commission shall notify to the applicant and the Commissioner the date and place of he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Presiding Officer or in the office of one or other Members of the Special Bench, the remaining Members, if more man three, may function as the Special Bench, and the senior most of the remaining Members shall act as the Presiding Officer of the Special Bench. 14. Filing of authorisation: An authorised representative appearing for the applicant at the hearing of an application shall file before the commencement of the hearing a document authorising him to appear for the applicant and if he is a relative of the applicant, the document shall state the nature of his relationship with the applicant, or if he is a person regularly employed by the applicant, the capacity in which he is at the time employed. 15. Verification of additional facts: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded 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 matters 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 expenditure account or any other similar account, as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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