Home Highlights June 2012 Year 2012 This

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1. Validity of Settlement Commission order - validity of immunity granted to the assessee - Based on such disclosures and on noting that the appellant co-operated with the...

2. Rejection of request for waiver of interest while granting immunity from penalty and prosecution - order of Settlement Commission - the liability of the Petitioner to...

3. Prosecution u/s 276CC - Settlement Commission has already granted immunity from prosecution to the petitioner - The High Court highlighted the importance of the...

4. The Settlement Commission's order accepting the additional income offered as cash gifts from relatives was reasonable and fair. The immunity from penalty and prosecution...

5. Bar on application before the settlement commission - scope of the term 'any other matter' u/s 127L - The phrase 'any other matter', in my considered view, would bar an...

6. Rate of Interest on duty as per the order of Settlement Commission - Interest rate reduced from 24% to 15% - there are no reasons to interfere with the impugned order....

7. Validity of Settlement Commission order - by virtue of Section 132 (4A), Section 56 (2) (vii) and Section 292 (C), the presumption in law arose as a consequence of the...

8. 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...

9. Validity of order passed by Settlement Commission - Unless the twin conditions mentioned therein are fulfilled, the Settlement Commission cannot move further in the...

10. Challenge against the order passed by the Settlement Commission - reason behind the creation of Settlement Commission is to give a quietus to the dispute between the two...

11. Renewal of warehouse license - Private Bonded Ware House License - Settlement Commission granted immunity from prosecution and penalty - The immunity granted against...

12. Penalty u/s 271D and 271E - whether Section 245H of the Act excludes Sections 271D and 271E of the Act from the benefit of immunity by the Commission - Power of...

13. The Income Tax Settlement Commission (ITSC) has wide powers under Chapter XIX-A to examine and evaluate all aspects of an application for settlement, including calling...

14. Validity of the order of Settlement Commission, the JDGFT - Advance License Scheme - extension of time limit for discharge of export obligation, denied - Partial relief...

15. Settlement Commission order - immunity to the assessee from prosecution and penalty - the said orders are patently illegal for the reason as the entire procedure as...