Home Highlights August 2015 Year 2015 This

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1. Penalty imposed by the Settlement Commission u/s 271(1)(c) - The petitioner argued against the penalty, citing lack of mens rea and the absence of evidence showing...

2. The conferment, on the Settlement Commission, of the “powers of a Customs officer”, or the “powers of the Central Excise Officer” would not, ipso facto, result in the...

3. Settlement Commission lacks power to rectify order u/s 245F(1) by levying interest u/ss 234A, 234B, and 234C prior to 01.06.2011. Rectification order on 21.03.2003 was...

4. The High Court held that the Settlement Commission cannot reopen its concluded proceedings by invoking Section 154 of the Income Tax Act. Section 154 allows...

5. It was open for the Settlement Commission to impose penalty on the directors in addition to imposing penalty on the company, if there was material justifying imposition...

6. Validity of order of settlement commission – the Settlement Commission had no power of rectification at the relevant time – the order is required to be set aside - HC

7. Power of AO to pass an assessment order where application was filed before settlement commission – Income Tax Settlement Commission, rejected the application - decided...

8. Application for settlement of cases - High Court has observed that, the assessment order for A.Ys. 2013-14 to 2019-20 could not have been passed as the application filed...

9. Power of Settlement commission to rectify or review its order - Settlement commission did not take into account the unabsorbed depreciation – This is a fit case where...

10. Settlement commission power u/s 245D - Commission could have either rejected the application or allowed it to be proceeded further - When a duty is casts on the...

11. The Income Tax Settlement Commission (ITSC) has the power to pass an order not limited to aspects covered by the assessee's application but can consider issues mentioned...

12. Power of Settlement Commission u/s 245H of the Act - Immunity from imposition of penalty and prosecution – ITSC was not justified in taking a charitable view towards...

13. Eligibility to file settlement application - benefit of extension of time to file application for settlement - Admittedly, in this case, application for settlement under...

14. Settlement of case - power of commission u/s 254F to rectify an order - levy of interest liability u/s 234B which was not levied in the original order - order of...

15. Order of settlement commission - power to rectify its own order - impermissible and beyond the jurisdiction of the Commission - HC